Shaadi.com in Early IPO Talks, Joins Wave of Shark Tank India Firms Eyeing Market Debut

People Interactive India Pvt. Ltd., the parent company of the pioneering matrimonial platform Shaadi.com, is reportedly exploring an initial public offering (IPO) as Founder and CEO Anupam Mittal eyes a high-profile listing on the Bombay Stock Exchange and National Stock Exchange. The discussions, which kicked off in recent weeks with investment bankers, mark an early-stage deliberation aimed at capitalizing on India's buoyant IPO market, according to sources familiar with the matter cited by Bloomberg News. While no formal advisers have been appointed, the potential move aligns with Mittal's long-term vision to scale the 25-year-old business, which boasts over 35 million users and generates annual revenues exceeding ₹500 crore through premium subscriptions and matchmaking services. This development positions Shaadi.com to join a wave of consumer-tech listings, potentially valuing the firm at $1-1.5 billion based on prior funding rounds led by investors like Tiger Global and Qualcomm Ventures.

Shaadi.com, launched in 1996 amid the nascent internet era in India, revolutionized arranged marriages by digitizing the traditional process, evolving from a simple classifieds site to a sophisticated AI-driven platform offering verified profiles, compatibility algorithms, and community events. Under Mittal's stewardship—drawing from his Wall Street roots at PricewaterhouseCoopers and early e-commerce ventures like Indya.com—the company has navigated cultural sensitivities while expanding into diaspora markets in the U.S., U.K., and Canada. It faces stiff competition from listed peers like Matrimony.com (BharatMatrimony's parent, which debuted in 2017 with a ₹93 crore IPO) and Info Edge (owner of Jeevansathi.com and Naukri.com, valued at over ₹1 lakh crore). Recent enhancements, including video profiles and astrological matching integrations, have boosted user engagement by 20% year-on-year, but profitability remains a focus amid rising marketing costs and regulatory scrutiny on data privacy.

The IPO buzz gains added intrigue from Mittal's camaraderie on "Shark Tank India," where fellow judges Peyush Bansal and Aman Gupta are also charting paths to public markets. Bansal's Lenskart, India's largest eyewear e-tailer with a $5 billion valuation, confidentially filed draft papers for a $700 million IPO in October 2025, targeting a December debut after raising $200 million from Temasek and Fidelity—potentially the largest consumer IPO of the year. Meanwhile, boAt Lifestyle, Gupta's audio and wearables brand, is in advanced talks for a ₹2,500 crore listing by mid-2026, following a $100 million Series E round that valued it at $1.4 billion. This "Shark trio" convergence underscores a maturing Indian startup ecosystem, where homegrown unicorns are leveraging post-pandemic digital adoption to unlock liquidity for founders and early backers, with boAt reporting 25% revenue growth to ₹3,400 crore in FY25 despite global supply chain hiccups.

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India's IPO surge provides fertile ground for Shaadi.com's ambitions, with primary market issuances surpassing $19 billion in 2025—on track to eclipse 2024's $21 billion record, per Bloomberg data—and 250+ listings fueling a 15% rise in benchmark indices. Sectors like fintech (Zerodha's rumored $3 billion IPO) and e-commerce (Nykaa's parent FSN E-Commerce) have led the charge, but consumer services like matrimony could tap into demographic tailwinds: India's 1.4 billion population includes 600 million in the marriageable 20-35 age bracket, with online matchmaking projected to hit $1 billion by 2028. Experts note that while Shaadi.com's steady cash flows (EBITDA margins around 25%) make it IPO-ready, challenges like user monetization in tier-2/3 cities and competition from free apps like Bumble could pressure valuations. Mittal, a vocal advocate for ethical capitalism, has hinted at using proceeds for tech upgrades and global expansion, echoing his Shark Tank ethos of sustainable scaling.

As deliberations progress, the lack of official comment from People Interactive leaves room for speculation, but sources indicate a timeline of 12-18 months, contingent on market stability and regulatory nods from SEBI. This potential listing not only validates Mittal's pivot from Silicon Valley to Shark Tank stardom—where his no-nonsense investments have backed 50+ startups—but also spotlights matrimony's untapped potential in a nation where 90% of marriages remain arranged. With peers like Matrimony.com trading at 20x earnings post-IPO, success could catapult Mittal's net worth beyond $500 million, funding further philanthropy in education and startups. Yet, in a field rife with sentiment-driven volatility, Shaadi.com's debut will test whether digital "rishtas" can woo Dalal Street as effectively as they do desi hearts.

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