"One thing is clear: if a company like Skype can attract a premium price, it is no big deal for Indian companies to get the same valuation," says Jolly. For Indian online start-ups, the successful overseas flotation of travel portal MakeMyTrip last year was a watershed moment of sorts for the fledgling sector.

MakeMyTrip.com raised just $70 million from the IPO, whose successful Nasdaq listing and a $1-billion valuation demonstrated that the Indian e-commerce landscape was maturing and could attract a wide range of global investors.

Snap Deal, an Indian e-commerce firm that offers group buying deals akin to Groupon, has seen a steep rise in valuations, the experts say.