Livspace, a Singapore-headquartered home interiors and renovation platform, backed by KKR & Co. and Goldman Sachs, is planning its IPO, as the company sets to record its first net income by the first quarter of next year.

Livspace’s revenue has increased by 40% year-over-year, according to co-founder and COO Ramakant Sharma, with 85% of it coming from India.

Livspace plans to operate 200 physical stores across India by year-end.

India’s IPO market is currently booming, having raised $8.6 billion in 2023. The growth is driven by increased local investments and a trend of foreign investors becoming net buyers of Indian stocks.