IPO Rush 2026: Zepto, PhonePe, Flipkart Lead India's Blockbuster Market Debuts

• Zepto confidentially filed draft IPO papers, targeting July-Sept 2026 debut; valued at $7 billion, FY25 revenue ₹11,109 crore, but losses widened.
• PRISM (OYO Parent) filed confidential IPO papers, seeking ₹6,650 crore, with a potential valuation of $7-8 billion, turning profitable in Q1 FY26.
• PhonePe submitted confidential draft IPO papers for a ₹12,000 crore OFS by Walmart, Tiger Global, and Microsoft, narrowing FY25 losses.
• Flipkart's NCLT approval for shifting its holding structure to India clears a major hurdle for a domestic IPO.
• boAt faces audit concerns in its second IPO attempt, while Fractal Analytics received SEBI approval, potentially becoming India's first AI-focused IPO.

Why It Matters: India's 2026 IPO pipeline is robust, with major tech and consumer firms like Zepto, PhonePe, and Flipkart preparing for market debuts.