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2h ago

SEBI Clears Groww IPO Plan Targeting Up to $1 Billion

A public draft is expected shortly following a confidential pre-filing, backed by a sharp FY25 profit.

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Groww posted revenues of ₹4,056 crore and a profit after tax of ₹1,818 cr for FY25.

Overview

  • Industry reports say Billionbrains Garage Ventures received SEBI approval to pursue a $700 million to $1 billion offering, positioning one of India’s largest fintech listings.
  • Coverage indicates an indicative valuation near $7–$8 billion, with some reports citing a possible $8–$9 billion target and a Q4 2025 market debut.
  • The float is expected to include a mix of fresh equity and an offer for sale, with JP Morgan India, Kotak Mahindra Capital, Citigroup, Axis Capital and Motilal Oswal as bookrunners.
  • Groww filed via SEBI’s confidential pre-filing route in May and is expected to submit an updated draft red herring prospectus publicly in the coming weeks.
  • ROC filings show FY25 revenue of ₹4,056 crore and profit after tax of ₹1,818 crore, and market data cites over 12.3 million active clients with roughly 26% share.