TRMG Raingauge Index is an objective market cap, weighted index of the listed Indian venture-backed companies. The report is the most widely read publication by decision makers in India’s startup ecosystem to understand the latest trends and numbers of India’s venture economy.
Venture-backed
listed startups
Total RGI
market cap
In the rapidly evolving landscape of Indian startups and the surge in listings since 2021, we noticed a significant gap – the lack of a comprehensive resource offering insights into listed startups' valuations, operating metrics, and performance.
Recognising the growing influence of public market valuations on private markets, we set out on building an objective metric to track valuations of the Indian venture ecosystem’s most consequential companies
India’s listed startups have now seen four seasons in public markets, the bigger playground for late-stage growth capital
India's listed startups dipped into bear market territory for the first time.
A startup enters the SENSEX, decacorn duopoly, power law in listed startups, conservative IPO pricing goes mainstream.
India’s listed startups have delivered premium growth with margin expansion under scrutiny of the public eye.
Performance matters, but so does leaving value on the table.
All that continues to matter is growth with underwritable earnings power.
Where the rubber meets the road - How Indian growth stocks are being valued.
Key metrics for top market cap companies in the RainGauge Index
Data as on March 31, 2025
