On India’s 79th Independence Day, Vyome Therapeutics, a homegrown pharma startup with global ambitions, marked a historic milestone by debuting on the Nasdaq Stock Exchange under the ticker symbol HIND. The listing followed its strategic merger with ReShape Lifesciences (Nasdaq: RSLS) and has become a symbol of India’s growing presence in global healthcare innovation.
A Defining Moment for India’s Global Rise
Vyome’s Independence Day debut carried deep symbolism. As the Nasdaq Opening Bell rang in New York, it was more than a corporate formality — it was a moment of national pride, underscoring India’s ascent in scientific excellence and entrepreneurship.
Headquartered in Cambridge, Massachusetts and Delhi, Vyome operates across the US-India innovation corridor, aiming to transform patient care in immuno-inflammatory and rare diseases. The company has positioned itself within the $100 billion immuno-inflammatory market by leveraging India’s cost-efficient R&D ecosystem alongside US-based innovation.
Vyome’s Historic Firsts
The listing cements Vyome’s place in history with several notable firsts:
- First company from the Iron Pillar portfolio to go public.
- First IPO in the investment career of founder-investor and Chairman Krishna Gupta, who previously oversaw several M&A exits.
- First Indian company to ring the Nasdaq bell on India’s Independence Day.
- First India-origin IP-driven life sciences firm to list on a major US exchange.
“From Delhi to Nasdaq”
Co-founder Shiladitya Sengupta, a professor at Harvard Medical School and researcher at MIT, described the milestone as a “journey from Delhi to Nasdaq.” He noted that it sets a precedent for innovation-driven Indian pharma startups eyeing global markets.
CEO Venkat Nelabhotla called the path “long and filled with challenges,” crediting the listing to the team’s commitment and patient execution.
Financial Structure and Ownership
The merger, first announced in December 2024, gave Vyome shareholders 91.62% ownership in the combined entity, while ReShape shareholders retained 8.38%. ReShape transferred most of its assets (excluding cash) and liabilities to UK-based Ninjour Health International.
Nasdaq classified the deal as a “change of control” transaction, requiring the new entity, now Vyome Holdings, Inc., to meet all initial listing requirements.
Importantly, Vyome enters the market completely debt-free, a point reinforced by Chairman Krishna Gupta, who emphasized the company’s focus on long-term shareholder value.
Sleepless Nights, Times Square Celebrations
For investors, the listing was both nerve-wracking and exhilarating. Mohanji Jolly, partner at Iron Pillar, shared on LinkedIn how the pre-listing jitters turned into a celebration on a Times Square rooftop with Indian snacks and sweets. “So exhilarating it left me sleepless for two nights,” he wrote.
Jolly framed the moment as validation of the nearly two-decade-old US-India innovation corridor, built on trust and long-term commitment.
What’s Next for Vyome
As Vyome Holdings begins trading as HIND, the company aims to unlock value in its clinical-stage assets, expand its research pipeline, and strengthen collaborations across the US and India. Management sees this as not just a financial milestone but a platform for scaling Indian scientific innovation globally.
