After years of US bets, Indian SaaS lines up for home listings

Pankaj Naik, Managing Director and Co-Head of Digital, Technology and Consumer Investment Banking at Avendus Capital, said: “Over the last few quarters, we are seeing a clear increase in the SaaS IPO pipeline in India, particularly among profitably growing companies that have scaled during 2020-22 and are now approaching predictable ARR (annual recurring revenue) and operating profitability thresholds.” “The number of SaaS companies ready to go public today is significantly higher than in 2021-22, when only a handful qualified.”