At least 20 Indian startups have advanced IPO preparations in early 2025, Inc42 data showed, as founders seek liquidity amid stabilising valuations. Companies spanning fintech, SaaS, and consumer internet are evaluating listings after  the venture funding slowed. Market advisors said stronger emphasis on profitability, governance discipline, and clearer regulatory frameworks is shaping a more cautious, better structured IPO pipeline for domestic startups

Shares of Larsen & Toubro declined after JM Financial lowered its order inflow estimates, citing uncertainty surrounding an $8.7 billion Kuwait infrastructure tender. The brokerage warned of possible delays in the awarding large overseas projects. Despite near term pressure, analysts said L&T’s strong domestic execution pipeline, diversified portfolio, healthy balance sheet, and infrastructure focus continue to support long term growth visibility