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Elevation Lines Up 9 Portfolio Cos for IPO
Mint Mumbai
|August 07, 2025
Elevation Capital plans to take at least nine portfolio companies public over the next 12-24 months, as it gears up to monetize its portfolio amid improving public market conditions for tech and consumer startups in India, a top executive told Mint.
The venture firm's IPO pipeline includes Aye Finance, Urban Company, Acko, Wakefit, Meesho, The Souled Store, Spinny, Mintifi, and Mosaic Wellness.
Elevation may not exit all of them immediately, as it plans to retain stakes in some companies post-IPO.
Startups such as Urban Company, Wakefit, and Aye Finance have already filed their draft papers and may go public by the end of this financial year. Others are expected to follow suit in the next two years, said Chirag Chadha, partner at the firm, in an interview.
He added that most of these companies have surpassed ₹1,000 crore in scale and are already profitable or have a clear path to profitability. Elevation's past IPO exits include MMT, IL&FS Investsmart, Justdial, Paytm, FirstCry, Ixigo, Swiggy, Senco Gold, Tracxn, and Speciality Restaurants.
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