Groww, a stock broking and wealth management platform, has received SEBI’s approval to go public, potentially raising up to $1 billion in its upcoming IPO, according to sources cited by Moneycontrol. The Bengaluru-based fintech is expected to be valued between $7 billion and $8 billion, marking a significant milestone in India’s startup and financial services sectors. Groww plans to file its updated DRHP in the coming weeks.
The company had initially filed for an IPO confidentially in May and is also in talks for a pre-IPO capital raise. Groww aims to list its shares on both NSE and BSE, though specifics on the issue size and offer components remain undisclosed. The IPO could see a 10-15% equity dilution, suggesting a raise between $700 million and $920 million.
Founded in 2016, Groww is a top player in India’s wealthtech space, competing with Zerodha and Upstox. It boasts over 12.3 million active users, a 26% market share on NSE, and reported a tripled net profit of Rs 1,818 crore in FY25.
