Practo Technologies Pvt. Ltd., the Bengaluru-based pioneer in digital healthcare, is set to join the growing list of Indian tech firms eyeing the public markets. According to sources familiar with the matter, the company has begun early-stage discussions with potential advisers to explore an initial public offering (IPO) as early as the second half of 2026.

The health-tech platform, which connects patients with doctors for appointments, consultations, diagnostics, and more, is expected to appoint investment bankers as soon as next month. However, deliberations remain ongoing, and timelines or details could still evolve.

A key preparatory step involves redomiciling its holding company from Singapore back to India, a process anticipated to wrap up by February 2026. This shift is essential to meet regulatory requirements for a domestic listing and aligns with similar moves by other India-focused firms preparing for IPOs.

Practo’s IPO ambitions come at a time when India’s primary market is experiencing unprecedented buoyancy, driven by surging retail investor participation and consistent inflows into mutual funds. This environment has delivered robust demand for new listings and impressive post-IPO performances, prompting consumer-tech and digital companies to accelerate their public debut plans.

Founded in 2008 by Shashank ND and Abhinav Lal, Practo has evolved from a simple doctor appointment booking service into a comprehensive end-to-end health-tech ecosystem. Operating in over 22 countries, the platform serves millions of patients by enabling seamless access to verified healthcare providers, practice management tools for doctors, telemedicine, and diagnostic services.

The company has shown strong financial discipline in recent years. In FY25, Practo reported its first full-year operating EBITDA profit of ₹15 crore on revenue of approximately ₹234 crore, with gross merchandise value (GMV) stable at ₹3,500 crore. It also achieved positive cash flows and recorded six consecutive profitable quarters, building on a 22% revenue growth in FY24.

This potential listing could unlock significant capital to fuel Practo’s next growth phase, including deeper investments in technology, AI-driven health outcomes, service expansion into smaller cities and international markets (such as recent entry into the UAE), and intensified competition in the crowded digital health space.

While no specific valuation or offer size has been disclosed yet, the move would offer public investors exposure to one of India’s most established health-tech players amid rising demand for digital healthcare solutions.