Sebi greenlights Groww DHRP; may raise in excess of Rs 8,500 crore: Reports
Groww is the country's largest stockbroking platform with more than 1.23 crore active investors. The platform that was set up in 2016 and since then quickly became extremely popular among Indian investors.
Kolkata: Four months after filing a draft red herring prospectus (DRHP) with market regulator Sebi through the confidential route, fintech platform Groww has received the nod to raise between $700 million and USD 1 billion (more than Rs 8,500 crore according to latest exchange rates), reports stated. The vehicle to float the IPO will be Billionbrains Garage Ventures, which is the parent company of the fintech platform. The Bengaluru-based investment platform is backed by investors such as Microsoft CEO Satya Nadella, Peak XV and Tiger Capital. Peak XV Partners is a prominent venture capital firm that invests in India, Southeast Asia and beyond.
Second tech-driven firm this year
Groww is now the second tech-driven firm to get the nod of Sebi to raise money from the market through an IPO. The first company to get the approval this year was
PhysicsWallah which secured the approval July 18, after filing its DHRP on March 19, 2025.
The proposed Groww IPO could be one of the largest fintech IPO in India's history. Heavyweights such as JP Morgan, Kotak Mahindra, Citigroup, Axis Capital and Motilal Oswal will be managing the IPO. Groww is likely to file a prospectus for the new issue in the next few weeks.
Groww was set in 2016. Since then it a attracted a lot of attention and ha evolved into the country's biggets stock broking platform with more than 1.23 crore actie clients. According to reports, Groww has a market share of more than 26% in August 2025.
Jump in net profits
In FY25, the company reported a threefold jump in net profit to Rs 1,819 crore. The firm’s revenues surged 31% from Rs 3,145 crore in FY24 to reach Rs 4,056 crore in the last financial year.
Apart from stock broking, the company earns through mutual funds and SIP offerings. This has also helped the company tide over the curbs by the capital markets regulator on F&O and volume-based rebates.
Reports indicate that Groww could be valued at around $700 billion. Earlier this year Groww secured a $200 million funding where it was valued around $7 billion. Singapore's sovereign wealth fund GIC and Iconiq Capital (an existing investor) chipped in.
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