Indian unicorns diversifying to newer biz segments ahead of mega-IPO plans

A slew of Indian firms, including Flipkart, Byju's and Zomato, is building a path to profitability and diversifying into newer business segments ahead of mega-IPO plans

Top Indian internet-based companies, including e-commerce firm Flipkart, ed-tech start-up Byju’s, food-delivery company Zomato and ride-hailing firm Ola, are gearing up for initial public offerings (IPOs) in two or three years that are expected to unlock a total valuation of $100 billion for these firms.

According to industry insiders and analysts, these firms are focusing on building a path to profitability, diversifying into newer business segments and consulting their finance and legal teams for listing overseas or in India.

Walmart-owned Flipkart and PhonePe, the digital payments firm, are planning to go public in the US by 2022. Sources said Flipkart is eyeing