Gupshup

03/2026. Preparation steps taken. Gupshup has been laying groundwork consistent with an IPO push: it hired a capital-markets-experienced CFO in March 2026 — Ravi Dugar, who as Awfis CFO helped lead that company's 2024 IPO — and has been focused on financial discipline and profitability after its 2025 layoffs.

07/2025. When Gupshup raised its $60M round in July 2025, it set an 18–24 month timeline for an IPO, with plans to reverse flip to India. That would put a potential listing window roughly in 2026–2027, though the company itself has stressed the date isn't fully in its control.

As of late 2025, this remained unresolved: the board of Gupshup had yet to decide on redomiciling the US-registered holding entity to India for an IPO.

04/2023, Beerud Sheth said: "In this market, I don’t think any company can plan an IPO as such. The IPO window (in the US) is currently closed and there are a lot of uncertainties and therefore investors are still sitting on the sidelines. The way we look at it is since it is not in our control, we are focussed on continuing to drive profitable growth at scale. There are very few companies that have the kind of financial profile that our company has. If we do that, whenever the markets open up, we will be ready to IPO and it will be a successful one because the general philosophy is – focus on building value and the valuation will follow".

Gupshup continues preparing for IPO even as timeline gets delayed, CEO Beerud Sheth said.

12/2022, Beerud Sheth, Co-founder and chief executive officer of Gupshup: "Gupshup has been profitable and is witnessing steady growth. We raised the recent round to expand our product capabilities and build our current product stack. We are capital efficient and are preparing for an IPO and will take a call (about fundraising) based on the market conditions".