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The Private Equity (PE) industry in India has grown significantly over recent years. PE has become one of the emerging and innovative sources of finance especially for the startups and high-risk projects. The PE funding goes through different stages such as seed stage, startup stage, mezzanine-financing stage and bridge-financing stage. The return generated from PE funding varies with the stages and more so on the exit routes followed. The common routes of PE exits in India are Initial Public Offering, Mergers and Acquisitions and Public Market. This paper which is an exploratory in nature, has endeavored to analyze the recent trends in PE exits and the different routes of exits followed by the Private Equity firms in India. The study indicates that most of the exits have taken place in the financial sector, followed by the IT, Consumer discretionary, industrials, health care, materials, Utilities, Telecom and Energy. Similarly, M&A is found to be the most preferred route of exit for PE firms operating in India, although other routes like IPOs, open market and secondary sale and buybacks are also followed.