Groww has received approval from the Securities and Exchange Board of India (SEBI) to launch its initial public offering (IPO). This move sets the stage for one of India’s biggest fintech listings, according to people familiar with the matter.
The Bengaluru-based platform plans to raise up to $1 billion through the IPO. This could value the company between $7 billion and $8 billion. Groww will file an updated draft red herring prospectus (DRHP) in the coming weeks. The firm had first submitted its IPO papers confidentially on May 26 under SEBI’s pre-filing mechanism.
Groww’s parent, Billionbrains Garage Ventures Pvt Ltd, recorded strong financial growth in FY25. Net profit tripled to Rs 1,819 crore, while revenue rose 31% year-on-year to Rs 4,056 crore.
The company has secured over $390 million from leading investors such as Tiger Global, Sequoia Capital, ICONIQ Growth, and Ribbit Capital. Groww was last valued at $3 billion in 2021 during its Series E funding round. The planned IPO would mark a significant milestone for the firm.
Founded in 2016 by ex-Flipkart executives Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal, Groww has quickly become one of India’s fastest-growing investment platforms. It began as a mutual fund distribution app but now offers stock broking, ETFs, futures and options, US equities, and fixed-income products.
This IPO could become the second major startup listing of 2025, after electric vehicle maker Ather raised Rs 2,626 crore from public markets earlier this year.
