According to Bloomberg Business, Practo Technologies Pvt., the operator of a major digital health platform in India, is planning an initial public offering. The Bengaluru-based firm has held early-stage discussions with potential advisers to explore a listing specifically in the second half of 2026. The company is reportedly set to appoint bankers for the deal as soon as next month. These deliberations are still ongoing, however, and the details of the IPO could still change. This move places Practo among a wave of Indian companies rushing to capitalize on the country’s buoyant market for first-time share sales.
Practo’s Long Road to the Public Markets
Here’s the thing: a 2026 target is a long way off. That’s over two years of runway, which in tech time is basically an eternity. It signals that this isn’t a rushed, “strike while the iron is hot” move, but a deliberate, multi-year strategy to get their house in order. They’ll need that time. Practo has been around since 2008—it’s a veteran in India‘s startup scene—and its journey has been a rollercoaster of rapid expansion, layoffs, and strategic pivots. Going public means they need to show not just growth, but consistent, profitable growth. And that’s the real challenge for a company that’s spent years trying to digitize every corner of India’s fragmented healthcare ecosystem, from doctor discovery and appointments to telemedicine and clinic management software.
The IPO Context and the Challenge Ahead
So why now? Practo is riding the same wave that brought companies like PharmEasy and Dr. Lal PathLabs to market, but it’s also swimming against a strong current. The Indian public markets have become brutally discerning. Investors aren’t just buying growth stories anymore; they’re demanding clear paths to profitability. For Practo, the narrative will be crucial. Can they convince investors they are the definitive, consolidated health-tech platform for India, rather than just a feature—like a booking engine—that gets squeezed by more specialized players or big-tech entrants? I think their biggest hurdle will be proving their software-as-a-service model for clinics has the scale and stickiness to generate the kind of predictable revenue public markets love. It’s a tough, low-margin grind, but if anyone’s had time to figure it out, it’s them.
