Fintech firm Groww has secured approval from the Securities and Exchange Board of India (SEBI) to launch its initial public offering (IPO), setting the stage for one of India’s largest fintech listings to date. The Economic Times
Expected Offer Details and Valuation
- The IPO is expected to raise between $700 million and $1 billion, reflecting strong investor interest.
- Groww’s current valuation is estimated at $7–8 billion, making this debut a landmark for India’s digital investment space.
Background: Confidential Filing & Lead Managers
Groww filed its draft red herring prospectus (DRHP) via SEBI’s confidential pre-filing route on May 26, 2025.
The offering will include both fresh equity issuance and an offer-for-sale (OFS) component.
Top financial institutions involved in managing the IPO include JPMorgan India, Kotak Mahindra Capital, Citigroup Global Markets, Axis Capital, and Motilal Oswal Securities.
Groww at a Glance
Founded in 2016 by former Flipkart executives, Groww began as a mutual fund platform and has since expanded to offer equities, IPO access, digital gold, and more.
FY25 Financial Highlights:
- Revenue: ₹4,056 crore (31% YoY growth)
- Net Profit: ₹1,818 crore—a significant turnaround from prior years.
With over 12 million active users and a 26% market share in retail broking, Groww is among India’s leading digital investment platforms.
Why This IPO Matters
This milestone not only demonstrates SEBI’s trust in Groww’s operational maturity and compliance but also signals growing confidence in India’s retail fintech space. A successful listing could pave the way for more tech-enabled financial companies to tap public capital markets.
