Groww Set to Launch Billion-Dollar IPO for Expansive Growth

Billionbrains Garage Ventures, the parent of Groww, secured SEBI approval for an IPO aiming to raise $700 million to $1 billion. The IPO will mix new equity shares and an offer for sale. Supported by major investors and founded in 2016, Groww plans technological and business expansion.

Billionbrains Garage Ventures, the entity behind India's prominent stock brokerage firm Groww, has obtained the green light from the Securities and Exchange Board of India (SEBI) for its forthcoming initial public offering (IPO), insiders revealed on Thursday. The IPO is projected to generate between USD 700 million and USD 1 billion.

This move could potentially elevate the investment platform's valuation to an impressive USD 7 billion. The IPO structure comprises a fresh issuance of equity shares alongside an offer for sale. Earlier, in May, the firm undertook a confidential pre-filing of the draft red herring prospectus with SEBI.

Backed by noteworthy investors such as Peak XV, Tiger Capital, and Microsoft's CEO Satya Nadella, Groww intends to channel IPO proceeds into technology enhancements and business scaling. Notable financial entities like JP Morgan India, Kotak Mahindra, and Citigroup are set to manage the offering. With a significant market presence, Groww boosts over 12.3 million active clients and noted substantial revenue and profit in FY25.

(With inputs from agencies.)