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5h ago

SEBI Clears Groww IPO Targeting $700 Million to $1 Billion

The profitable Bengaluru broker plans to channel proceeds into technology development to support expansion.

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

Overview

  • Parent Billionbrains Garage Ventures received regulator approval to proceed with the listing after a confidential DRHP filed in May.
  • The float is expected to raise roughly $700 million to $1 billion, implying a valuation near $7 billion, with some reports citing up to $8 billion.
  • The offer will comprise a fresh issue of shares alongside an offer for sale by existing holders.
  • JP Morgan India, Kotak Mahindra Capital, Citigroup, Axis Capital, and Motilal Oswal have been appointed to manage the sale.
  • FY25 ROC filings show revenue of ₹4,056 crore and profit after tax of ₹1,818 crore, as Groww leads the brokerage market with 12.3 million active clients and about 26% share.