Prepping for IPOs, startups shore up ops and focus on profitability

Companies cutting costs to improve financial health, strengthening corporate governance systems

Layoffs, corporate restructuring, governance and most importantly profitability: The 14 Indian startups that plan initial public offerings (IPOs) this year are pulling out all the stops to ensure successful market debuts.

A majority of these companies are not profitable and they are cutting costs to improve their financial health. “Key indicators for a startup's IPO success include robust financial performance, a well-defined business model, a clear growth strategy, a competitive market position, and a compelling value proposition,” said Ankur Bansal, co-founder and director of Blacksoil, a venture debt firm.

Swiggy, the food delivery platform, is laying off employees ahead of