Quick Take
- Over 60 listed Indian new-age tech firms are now worth more than $173 Bn, per Inc42 data dated August 8, 2026.
- About 64%, or 41 companies, are now profitable, a clear break from the growth-at-all-costs years.
- Delhi NCR holds 25 of these firms and $105.6 Bn of the total, ahead of Bengaluru and Mumbai.
India’s listed new-age tech companies are now worth over $173 Bn. That is the combined market value of more than 60 startups trading on Indian exchanges. Inc42 tracked the figure on August 8, 2026.
The count has grown fast. Over 60 new-age tech firms have crossed the IPO milestone and now trade on the bourses. A year earlier the tracker followed about 40 such companies. Delhi NCR alone holds 25 of them, ahead of Bengaluru’s 17 and Mumbai’s 11.
How Many Are Profitable?
About 64% of these listed firms, 41 companies, are now profitable. That marks a shift from the growth-at-all-costs years of 2020 to 2022. Founders now chase profit before filing IPO papers.
The rise is not only about numbers. Info Edge led profits in FY25 at ₹962 Cr. Justdial and IndiaMART followed, at ₹584 Cr and ₹551 Cr. The order of the market has changed.
Which Firms Carry The Market?
Some names carry the market. Eternal, the Zomato parent, is worth about ₹3.04 lakh crore. Groww is valued at nearly ₹1.18 lakh crore. A few firms hold a large share of the total.
| Company | Sector | Market Cap (₹ Cr) | Change Since Listing |
|---|---|---|---|
| Eternal (Zomato) | Foodtech | 3,03,986 | +71% |
| Groww | Fintech | 1,17,950 | +71% |
| IndiaMART | Ecommerce | 1,05,550 | +2,935% |
| Nykaa | Ecommerce | 95,099 | -1% |
| Paytm | Fintech | 92,426 | -26% |
The spread is wide. IndiaMART is up 2,935% since it listed in 2019. Paytm trades 26% below its 2021 debut. The same market holds both.
Where Are These Startups Based?
Delhi NCR is the clear leader. The region contributes $105.6 Bn of the $173 Bn total. Gurugram hosts 15 listed firms, including Eternal, Delhivery and Lenskart. Noida adds six, among them Paytm and IndiQube.
The 2025 listing wave set the pace. Eighteen startups went public that year, up from 13 in 2024. That group included Meesho, Ather Energy, Urban Company, Lenskart, Groww, Pine Labs and PhysicsWallah. Six more have listed in 2026 so far.
What Comes Next?
The pipeline is deep. Fintech leads the sector count with 13 listings. Enterprise tech follows with 12, and ecommerce with 11. PhonePe, Zepto and OYO are expected to list next.
Not every stock has risen. FirstCry trades 67% below its debut price. Ola Electric is down 43%. Meesho posted a ₹1,358 Cr loss in FY26 even as revenue grew 34%. The market rewards profit and punishes losses.
What this means for you: If you are building toward an IPO, the market now prices profitability, not just growth. Show a clean bottom line before you file.
StartupFeed Insight
The $173 Bn number hides the real story, which is concentration. A handful of firms, led by Eternal at about ₹3.04 lakh crore, hold most of the value. The long tail of small listings trades far below debut. This is a two-speed market. The profitable, large-cap names get rewarded, and the rest wait for a turn that may not come. Watch the next wave: PhonePe, Zepto and OYO. If they list profitable and hold their price through FY27, the “profit-first” shift is real. If they slide like Paytm did, the market’s patience with new-age tech is thinner than the headline suggests.
— Harshvardhan Kothari, Technology and Policy Correspondent
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Disclaimer: This article is for information only and is not investment advice. StartupFeed and its authors are not SEBI-registered investment advisors. Please speak to a SEBI-registered advisor before investing.
