Startup Policy Forum has launched the Centre for New-Age Public Companies (CNPC), a game-changing initiative to support Indian startups navigating the complex journey of initial public offerings (IPOs). With over 40 startups, valued at $90 billion, preparing to go public, CNPC offers regulatory advocacy, compliance training, peer learning, and tailored research to ensure IPO success. Led by Shweta Rajpal Kohli, this founder-driven platform bridges startups, regulators, and investors. Published by Startup INDIAX, this article outlines seven powerful ways CNPC empowers startups, why IPOs are booming, and how founders can prepare for public markets.
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What Is the Startup Policy Forum’s CNPC?
The Startup Policy Forum (SPF), a coalition of over 50 leading Indian startups, launched the Centre for New-Age Public Companies (CNPC) on July 17, 2025, to guide tech-driven companies through the IPO process. Announced at a Mumbai meeting with SEBI Chairman Tuhin Kanta Pandey and 20 startup founders, CNPC addresses regulatory, governance, and market-readiness challenges. With members like Swiggy, Razorpay, and Meesho, SPF’s CNPC is a founder-led hub to strengthen India’s startup ecosystem.
Why it matters: As India’s capital markets thrive, CNPC equips startups to transition from private to public entities, fostering trust and resilience.
Why Are Indian Startups Eyeing IPOs?
India’s capital markets are booming, with tech startups leading the charge. According to SPF, nearly 40 startups, collectively valued at over $90 billion, are poised to go public in the coming years. Companies like Groww, PhysicsWallah, and Bluestone are capitalizing on favorable regulations and investor appetite. The trend of “reverse flipping”—startups re-domiciling to India—further fuels domestic listings.
For instance, Swiggy’s recent IPO success highlights the potential for tech firms to thrive locally. Ashish Chauhan, MD & CEO of NSE, states, “The emergence of new-age companies in public markets is a significant evolution, fostering trust among investors.” This shift underscores India’s maturing startup ecosystem, making IPOs a strategic move for growth.
How Does CNPC Empower IPO-Bound Startups?
CNPC operates across four pillars—advocacy, capacity building, community engagement, and research—delivering seven powerful benefits for startups:
1. Streamlining Regulatory Navigation
CNPC collaborates with SEBI and policymakers to simplify regulatory frameworks for tech-driven startups. This includes addressing compliance complexities and advocating for startup-friendly policies. For example, Zetwerk, an SPF member, benefits from CNPC’s dialogues to streamline IPO filings.
2. Building Compliance Expertise
Through workshops and masterclasses, CNPC trains startups on corporate governance, investor relations, and financial reporting. These programs help founders like Ritesh Agarwal of OYO meet SEBI’s stringent requirements, ensuring readiness for public scrutiny.
3. Fostering Peer-to-Peer Learning
CNPC creates a community for founders and CXOs to share IPO experiences. Leaders from Swiggy, CRED, and Practo, who attended the CNPC launch, emphasize the value of learning from peers who’ve navigated successful IPOs.
4. Providing Tailored Research Tools
CNPC offers toolkits, policy briefs, and governance guides customized for new-age companies. These resources help startups like Bluestone address post-listing challenges, such as investor expectations and market volatility.
5. Supporting Reverse Flipping
CNPC aids startups re-domiciling to India, a critical step for domestic IPOs. Pine Labs, for instance, is navigating this process with CNPC’s guidance, addressing legal and tax complexities.
6. Enhancing Investor Confidence
By promoting transparency and governance, CNPC builds trust among retail and institutional investors. This is crucial for startups like Meesho, aiming to attract long-term investment in volatile markets.
7. Promoting ESG Best Practices
CNPC educates startups on Environmental, Social, and Governance (ESG) standards, increasingly vital for public companies. Workshops help firms like Ather Energy align with global ESG expectations, boosting investor appeal.
Key insight: CNPC’s multifaceted approach ensures startups are IPO-ready and equipped to thrive as public companies, strengthening India’s capital markets.
Who Leads CNPC and Its Impact?
Shweta Rajpal Kohli, President & CEO of SPF, spearheads CNPC with over 25 years of public policy experience from Peak XV Partners and Uber India. The launch event included founders like Ritesh Agarwal (OYO), Shashank Kumar (Razorpay), and Rohit Kapoor (Swiggy). SPF’s membership spans listed firms like ixigo and Ather Energy, and IPO-bound startups like Groww and Curefoods.
Why it matters: CNPC’s founder-led model ensures it addresses real-world challenges, making it a catalyst for India’s IPO wave.
What Challenges Do Startups Face in IPOs?
Startups face significant hurdles when going public:
- Regulatory Complexity: SEBI’s requirements can overwhelm tech firms with unique business models.
- Governance Scrutiny: Public companies face intense transparency demands.
- Market Volatility: Fluctuating markets challenge investor relations.
- Reverse Flipping: Re-domiciling involves legal and tax hurdles.
For example, Startup INDIAX has reported on Lenskart’s reverse flipping challenges, highlighting the need for CNPC’s support. CNPC’s resources and advocacy aim to mitigate these obstacles.
How Can Startups Leverage CNPC for IPO Success?
To maximize CNPC’s benefits, startups should:
- Engage in Advocacy Programs: Collaborate with SEBI via CNPC to understand regulations.
- Attend Training Sessions: Join CNPC’s workshops on governance and compliance.
- Participate in Peer Networks: Learn from successful IPOs through CNPC’s community.
- Utilize Research Tools: Implement CNPC’s guides for market readiness.
- Seek Reverse Flipping Support: Use CNPC’s expertise to navigate re-domiciliation.
Expert tip: Shweta Rajpal Kohli advises, “Startups must prioritize governance early to build investor trust and ensure long-term success.”
Conclusion: Join the IPO Wave with Startup INDIAX
The Startup Policy Forum’s CNPC is revolutionizing how Indian startups approach IPOs, offering unparalleled support for regulatory navigation, compliance, and investor relations. As India’s startup ecosystem matures, CNPC positions founders for global success. Startup INDIAX invites you to explore more startup stories, share your thoughts in the comments, or connect with us to stay updated on India’s IPO boom.