War slows IPOs, but startups keep bringing headquarters home

The broader market is experiencing volatility, with significant crashes reported on the same day, likely due to global factors like rising oil prices. However, the underlying trend of startups 'coming home' indicates a long-term positive structural shift for the Indian tech and financial sectors.

• •Geopolitical tensions are delaying IPO timelines.
• •Indian tech startups are relocating headquarters back to India.
• •Drivers for relocation include richer valuations, deep domestic liquidity, regulatory tailwinds, and waning US listing appeal.
• •Risk flag: Ongoing geopolitical tensions could further delay IPOs and impact market sentiment.
• •Risk flag: Global economic slowdowns may reduce investor appetite for new listings.