India's start-up listing rush has shown no signs of slowing down recently - and this week has been no different.
One unicorn - a tech start-up valued at more than $1bn - has made its debut on the country's stock markets, and two more are in the offing.
The $821m (£623m) share offering of eyewear solutions firm Lenskart, founded by a flamboyant Shark Tank India judge, was sold out in less than a few hours despite mind-boggling valuations. It had a shaky market debut on Monday.
The other big company debuting on the exchanges on Wednesday is Groww - the country's largest retail brokerage backed by Microsoft CEO Satya Nadella. Its issue got 17 times more demand from investors than the number of shares available for sale. Pine Labs, a fintech unicorn, will list later in the week.
These listings come amid an already hectic start-up IPO (initial public offering) season that's seen a diverse range of once fledgling tech businesses - from home services platform Urban Company to YouTube channel turned ed-tech unicorn Physics Wallah - tapping the stock market for investor dollars.
The dizzying fundraising frenzy has raised several uncomfortable questions about the expensive valuations commanded by these often-unprofitable newbie companies. But experts say it also signals a maturing of India's start-up ecosystem after a painful funding winter where money had all but dried up and early-stage venture capitalists were finding it difficult to cash out.
