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AI-led IPOs may add up to $100 billion to India's market-cap: Goldman Sachs
AI-led IPOs may add up to $100 billion to India's market-cap, according to Goldman Sachs.
Key points
- Goldman Sachs estimates 25-50 per cent of nearly 70 mid-to-late-stage private AI companies could go public in two to five years.
- Private equity funding for Indian AI startups has tripled since 2024, according to a Goldman Sachs report.
- Stanford University's 2026 AI Index Report ranks India among the top six global destinations for private AI funding.
Why it matters. A potential wave of AI IPOs could significantly increase India's listed market capitalisation and bring underrepresented segments of the AI value chain into public markets.
Goldman Sachs reports that India's emerging AI ecosystem could add $50 billion to $100 billion to the country's listed market capitalisation over the next two to five years. The investment bank estimates that 25-50 per cent of nearly 70 mid-to-late-stage private AI companies could go public. Timothy Moe of Goldman Sachs wrote that these listings could broaden India's listed AI universe.
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AI-led IPOs may add up to $100 billion to India's market-cap: Goldman Sachs
The investment bank estimates that 25-50 per cent of nearly 70 mid-to-late-stage private AI companies could go public in the next two to five years. India’s emerging artificial intelligence (AI) ecosystem could add $50 billion to $100 billion to the country’s listed market capitalisation (market-cap) over the next two to five years, driven by a potential wave of initial public offerings (IPOs), according to Goldman Sachs. The investment bank estimates that 25-50 per cent of nearly 70 mid-to-late-stage private AI companies could go public during this period, at a weighted average valuation of around four times their current estimated value. CLICK HERE FOR THE GRAPHIC "The listings could broaden India’s listed AI universe, bringing several underrepresented segments of the AI value chain into the public markets," Timothy Moe, co-head of Asia macro research and chief Asia-Pacific equity strategist at Goldman Sachs, wrote in an October 19 coauthored note. ALSO READ: AI to spur Southeast Asia's digital economy to $368 billion, shows study Private equity (PE) funding for Indian AI startups has tripled since 2024, Goldman Sachs' report said, while AI’s share of total PE allocations has quadrupled to approximately one-fifth of all private capital deployed in India. The country now ranks among the top six global destinations for private AI funding and the top four.
AI IPOs Could Add Up To $100 Billion To India Market Cap
Goldman Sachs projects that a wave of initial public offerings from AI companies could add between $50 billion and $100 billion to India's market capitalisation. The investment bank estimates that 25-50 per cent of nearly 70 mid-to-late-stage private AI firms may go public within the next two to five years. This growth is driven by the rapid expansion of the domestic artificial intelligence ecosystem.