&imwidth=800&imheight=600&format=webp&quality=medium "Groww to file updated IPO document with SEBI, anticipated valuation revealed")
Groww, one of the country's leading investment platforms, is likely to file an updated draft prospectus with the Securities and Exchange Board of India (SEBI), seeking to raise $700 million to $1 billion through an IPO at a valuation of $7-9 billion. The IPO will provide early investors with partial exits. However, it is clear which investors will sell shares if Groww.
Who are Groww's investors?
Y Combinator, Peak XV Partners, Tiger Global, and Ribbit Capital are Groww's major investors. The company is expected to list on both the National Stock Exchange and the Bombay Stock Exchange.
Groww's parent company, Billionbrains Garage Ventures Ltd, made the filing. Groww is currently valued at $7 billion, after having closed a $200 million round with Singapore’s sovereign wealth fund GIC.
What is Groww?
Groww began as a mutual fund investment platform. It was started in 2016 by Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal, all former employees of Flipkart. Over the years, the company has become one of the most profitable startups, whose net profit in FY25 grew to Rs 1,819 crore.
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Y Combinator invested in Groww at the seed stage in 2018. Peak XV Partners and Ribbit Capital took part in its Series A and B rounds in 2019. Tiger Global joined the firm in 2021.
Groww is India's largest investment platform, if you go by active users.
Groww's revenue in FY2025 grew 31 per cent to Rs 4056 crore.
Recently, Groww signed an agreement to acquire Fisdom to expand its wealth product offering. The firm has launched commodities and is expected to grow its margin trading facility (MTF) lending product. These products will help it grow its revenue and products.