It is believed that the IPO round could elevate CoinDCX to the same status as Coinbase Global following its US listing earlier in 2021, so the IPO will be pursued as soon as government regulations allow it.
PM Modi and his government has been recently working on a bill that could be imposing strict regulations on cryptocurrency. The RBI has already adopted a very anti-crypto stance and has called for total banning of all private cryptocurrencies to make way for its Central Bank Digital Currency (CBDC). The introduction of the proposed bill in the Parliament also caused widespread FUD among Indians, leading to significant price drops of cryptos like BTC and ETH.
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