Women Hold 25% Of External Director Roles On Startup IPO Boards, Says Longhouse

A Longhouse report shows that nearly 90% of external Directors in Indian startups are appointed during IPO preparation. The study analysed 187 external Directors across 34 startups that went public since 2021, collectively raising over Rs 1.12 lakh crore. Of these Directors, 65% bring financial, regulatory, general management, or strategy expertise.

Startups are formalising Boards one to three years before IPOs, with most Directors aged 55 and having around 31 years of work experience. Boards typically have 6–8 members, expanding to 9–11 for larger IPOs. Nominee Directors account for 23% of total appointments, balancing investor oversight with governance. Women constitute only 25% of external Directors, meeting regulatory minimums. Remuneration varies by expertise, with 24% earning Rs 50 lakh annually. The report highlights that strategic board appointments are central to governance, investor confidence, and IPO readiness.