2026

  • Rohit Field Notes Cover Image 13

    Product Management Playbook

    In the age of AI, every job function is changing rapidly, product management included.Product, by itself, has always been a slightly vague role. And in early-stage teams, it becomes even more fluid. What you work on, how you execute, and even what good” looks like keeps shifting from startup to startup.But despite all of this, the core tenets of building products…
    Authors
    Marmik Mankodi, Muskan Gupta
    Published
  • Rohit Field Notes Cover Image 12

    Insights from 11 Years of Mainboard IPOs Part 2 - 2025 Review

    India’s public markets have quietly become one of the most consequential capital formation machines in the world. From 2015 – 24, 377 companies listed — with combined revenue of ₹16,500 Bn ($218 Bn) and market cap of ₹37,925 Bn ($501 Bn) at listing. By FY25, aggregate market cap had doubled to ₹77,065 Bn. The compounding is real, and it is accelerating.But volume and market cap…
    Authors
    Vikram Gawande, Dhagash Shah
    Published
  • Rohit Field Notes Cover Image 11

    Revenue AI: Present and Future

    Artificial intelligence is rapidly becoming the operating system of revenue. Whether you build something from scratch in-house or buy a third party platform, AI-native software is reshaping how companies sell, retain customers, and scale growth across every level of the revenue organization. This BluPrint is a comprehensive view on where revenue AI stands today, where the biggest pain…
    Authors
    Sameera Pant
    Published
  • Slide titled Blume Credit Series, Introduction, with credit report illustration and BLUME branding

    Blume's Credit Series

    Credit is the invisible engine behind nearly every meaningful economic outcome, whether it is a small business buying inventory, a household purchasing its first home, or a solar installer scaling distribution. Yet in India, credit remains structurally under-penetrated relative to the scale and ambition of its economy.This gap is not due to lack of demand, but historically due to gaps in data,…
    Authors
    Udayan Pandey, Charulika Raman
    Published
  • Slide titled Insights From MainBoard IPO’s 2025 Review, Part 1 Offer Sizes, Timelines and Use of Proceeds, with IPO illustration and BLUME branding

    Insights from 11 Years of Mainboard IPOs

    India’s Public Markets Aren’t Cyclical. They’re Compounding.A decade of listings suggests the country’s public markets are entering a phase of sustained expansion. India’s public markets, long thought to move in bursts of speculative enthusiasm, are beginning to look more like a compounding machine of capital formation. Over a decade-long review of mainboard listings shows…
    Authors
    Vikram Gawande, Dhagash Shah
    Published
  • Slide titled India’s Exit Environment in 2025, A Structural Change Not a Cyclical Spike, showing illustration of investment growth with rising arrows and capital

    India’s Exit Environment in 2025: A Structural Change, Not a Cyclical Spike

    The Indian IPO and exits market in 2025 marked an important inflection point for the PE/VC ecosystem; the year reflected operational maturity, profitability, and liquidity-driven out​comes​.In calendar year 2025, 21 PE/VC backed companies issued shares worth approximately ₹52,514 crore (~$6 billion) through mainboard IPOs, comprising both fresh issue and offer-for-sale…
    Authors
    Vikram Gawande, Dhagash Shah
    Published
  • Slide titled Beyond UPI, Building The Future Stack India’s Payment Rails of 2035, BLUprint, with payment device and currency illustration

    Future of Payments in India Bluprint

    India stands at a defining moment in its payments journey, from UPI’s global recognition to the emergence of digital rupee pilots and new cross-border corridors. As the world’s most sophisticated real-time payments ecosystem scales toward 2035, the next decade will determine whether India can sustain innovation while balancing inclusion, interoperability, and monetary sovereignty. The most compelling axis…
    Authors
    Jatin Madhra, Charulika Raman
    Published
  • Slide titled The Age of Intelligent Finance, Bluprint, with illustration of robot and financial dashboards, BLUME branding

    The Age of Intelligent Finance Bluprint (Part II)

    This is Part II of a two part series that explores the intersection of fintech and AI. For Part I, click here.For over a decade, India’s fintech story was about building rails — Aadhaar gave identity, UPI made money instantly, Account Aggregators promised consented data etc.Together, they unlocked access…
    Sectors
    FinTech
    Authors
    Udayan Pandey
    Published