Is this the right time to apply?

I am currently an SDE 1 with one year of experience in a big startup, going IPO soon. I want to switch my company to a big MNC, as I can’t take the heavy work pressure anymore. Is this the right time to start preparing and start applying. I’ve heard the process takes a long time. If I try to apply right now, I think I’d would take around 6 or more months to get me an SDE1 role in another company and in less than 1 year I think I can get promoted in this company.

What do you guys think. Should I start preparing or should I not?