New-Age Companies Recalibrate IPO Sizes And Valuations

On Feb. 16, 2026, Economic Times reports several Indian new-age firms — including Amagi Labs, Shadowfax, Fractal, Capillary Technologies, and Pine Labs — cut IPO issue sizes or accepted lower valuations amid volatile equity markets. Bankers and investors say heightened selectivity is driving a pricing reset, with Fractal pricing its IPO at a 26% discount and mutual funds holding Rs 1.77 lakh crore in new-age stocks by end-2025.