India's IPO momentum hits a wall as PhonePe postpones public listing. The fintech giant cited global market volatility and geopolitical tensions as reasons for the delay, signaling a broader shift in investor sentiment. What was expected to be a blockbuster year for India's public markets is now facing headwinds. Over 48 startups were preparing to go public, but rising uncertainty has pulled liquidity from primary markets. Investors are increasingly cautious, holding back on new listings until geopolitical situations stabilize. Market analysts suggest this reflects both temporary panic and necessary valuation corrections. India's markets have declined over 12% since January, reducing appetite for premium-priced IPOs. Companies like Zepto, OYO, and Flipkart remain in the pipeline, but their timelines may shift depending on market conditions and investor confidence recovery.
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