
At least $759 million in IPOs are being paused in India. Why? Global markets are jittery—and once again, the West sneezes, and we’re told to catch a cold.
India’s IPO market, which was the second-largest in the world just last year, is slowing down. Nearly 58 companies have regulatory approval to list—but they’re holding back. Why? Because global investment sentiment is weak, U.S. policies are shaky, and even our own neighbors are adding tension.
Big names like Avanse Financial and Anthem Biosciences have put their IPO dreams on ice. Even LG’s Indian arm has hit the brakes. As Axis Capital’s Suraj Krishnaswamy put it, “Only a few institutional investors are willing to bet right now, and India-Pakistan tensions haven’t helped.”

But here’s the truth no one says out loud: India isn’t the problem. The West is.
When Wall Street Wobbles, the World Pays
What does this mean for the average Indian investor or startup?
It means that your company might have a breakthrough product, but global recession fears—thanks largely to America’s erratic policies and Donald Trump’s tariff tantrums—are ruining the party.
That’s the absurdity: India, with strong domestic demand, a booming digital stack, and a forward-thinking regulatory environment, is being asked to “wait and see”—because someone else is panicking.
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Retail Investors Are Spooked—And Rightfully So
The IPO market thrives on confidence. But retail investors have been burned recently. They’ve seen valuations drop post-listing, and in a volatile global climate, no one wants to be the next bagholder.
Electric scooter maker Ather Energy went ahead with its ₹352 crore IPO. It was fully subscribed—but only after slashing its valuation by 44%. That’s not a business problem; that’s market fear speaking. As Hem Securities’ Astha Jain said, “Ather is a risky bet in today’s geopolitical mood.”
West vs. East: Who’s Actually the Safe Bet?
Let’s be honest: The West doesn’t know how to handle a crisis anymore.
Bank failures, inflation spirals, shaky tech stocks, and crumbling trust in institutions—that’s where the real volatility is.
Meanwhile, India is rolling out UPI to the world, building ONDC to rival Amazon, and digitizing everything from loans to land records.
Still, Indian IPOs are being delayed—not because of our economy—but because of the West’s panic reflex.
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Why India Shouldn’t Wait for Wall Street’s Permission
It’s time we ask a serious question:
Why should Indian startups pause their progress because Wall Street’s on edge?
This isn’t the India of 1991. Today, we build our own tech stacks, our own capital markets, and our own future. And that future doesn’t need to sync with America’s nervous breakdown.
Bhavesh Shah of Equirus said it best: “If valuation is critical, wait. If the issue is critical, adjust.”
Translation: It’s our call now.
Final Word: India Is Not Slowing Down—Just Strategizing
Yes, there’s a temporary chill in the IPO market.
Yes, companies are rethinking listings.
But don’t mistake strategy for weakness.
India’s IPO market is still alive—it’s just choosing not to play the global panic game. With elections behind us, a stable government, and a robust digital economy, we’re not waiting to catch up—we’re pacing ourselves to lead.
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