India, Nov. 9 -- The market is in the midst of a consolidation. But, Ankit Mandholia, of Motilal Oswal Financial Services Ltd, believes that this will kick off the next leg of growth.

After moving sideways for a year and entering into a more mature, earnings-driven phase, the market throws up an opportunity for startups, particularly those aiming to be projected as sustainable businesses, ready for public scrutiny.

Public market valuations aren't a reward but a reality check, underscoring that the next wave of startup IPOs will mark a shift from the growth-at-all-costs mindset towards profitability, strong governance, and capital efficiency - qualities that will isolate enduring companies from speculative ventures, according to him.

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