At least seven Indian companies, including Vishal MegaMart and PhysicsWallah, have confidentially filed for initial public offerings (IPOs) over the past year, following a trend led by Tata Play and Oyo Rooms. This practice, previously observed in markets such as the US, UK, Hong Kong, and Singapore, is gaining traction among new-age Indian firms. In addition, Urban Company is preparing to file its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for a reduced IPO size of approximately Rs 2,000 crore, down from an earlier plan of Rs 3,000 crore. The revised IPO will include Rs 500 crore in fresh issuance and Rs 1,500 crore through an offer for sale. Meanwhile, Meesho is aligning its corporate identity with its brand by renaming its Indian entity from Fashnear Technologies Pvt Ltd to Meesho Pvt Ltd, following similar moves by companies like Swiggy, Urban Company, and Shiprocket. These developments reflect a growing trend of confidential IPO filings and corporate restructuring among Indian startups and new-age firms.