Need Help - Should i Switch? YOE - 3.5

Location - Mumbai, Product based company
Role - SDE2-Backend Engineer
Total YOE - 3.5
YOE at current company - 3.5

Current TC
BASE - 19.9
BONUS - 0
Benifits - standard
Total TC - 19.9
Recently got stocks as a performance bonus
STOCKS - 32L (will completly vest in Aug 2028)
Company Expectation - this 32L will grow near 1cr over next 4 years
Expecting to go for an IPO in next 2 years
Please suggest if it is better to switch in current market conditions

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You can try to get a new offer and if you want to be in the same company you can share the counter offer with your current company. If they value you they will match the offer

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