India's IPO Boom Just Starting, Lightspeed Shifts Startup Bets to 2026

• Lightspeed predicts India's IPO boom will continue, with 2025 seeing 18 companies raise over ₹41,000 crores and over $20 billion raised across 100+ mainboard listings.
• Anuj Bhargava expects a third consecutive $20 billion IPO year, driven by India's expanding consumption pool and resilience against global market swings.
• Hemant Mohapatra sees AI as India's next strategic 'natural resource,' focusing on large-scale enterprise and government solutions rather than competing with global models.
• AI's impact on the workforce is a dual challenge: automation displaces jobs, but specialisation creates new opportunities, requiring India to skill its young population.
• Lightspeed partners discuss the 'stroke of pen' risk from regulations, viewing it as part of a maturing market where good companies adapt, and highlight the rise of young founders like Airbound's 17-year-old CEO.

Why It Matters: India's startup ecosystem is poised for continued growth with a robust IPO pipeline and AI-driven transformation.