The upcoming initial public offering (IPO) of online investment platform Groww is set to unlock employee wealth estimated between ₹2,400 crore and ₹2,500 crore, according to details from the company’s red herring prospectus (RHP).
This significant wealth creation underscores the sharp surge in Groww’s valuation, with the Bengaluru-based fintech targeting a market valuation of nearly $8 billion through its stock market debut.
Billionbrains Garage Ventures, the parent company of Groww, will open the IPO for public subscription on November 4 and close it on November 7. The company has set the price band at ₹95–₹100 per share and aims to raise ₹7,000 crore through a combination of primary and secondary share sales.
Founded in 2016, Groww counts Y Combinator, Peak XV Partners (formerly Sequoia Capital India), GIC, and Ribbit Capital among its key investors. The company has emerged as India’s largest online stockbroking platform in terms of NSE active clients, highlighting its dominant position in the country’s retail investing landscape.
As per the RHP, founders Lalit Keshre, Harsh Jain, Ishan Bansal, and Neeraj Singh have chosen not to participate in the offer for sale (OFS). Meanwhile, existing investor Tiger Global has reduced its OFS size to 51.8 million shares from the originally planned 64.8 million, bringing the total OFS volume down to 557.2 million shares.
Groww, which initially launched as a mutual fund investment platform, reported ₹904.3 crore in operating revenue for the June quarter, compared with ₹1,000.7 crore during the same period last year.
The IPO is expected to reward long-term employees and early backers while reinforcing Groww’s leadership in India’s fintech and stockbroking ecosystem as the company continues to attract an expanding base of retail investors.
