Groww, the stock broking and wealth management platform, has received approval from the Securities and Exchange Board of India (SEBI) to go public, paving the way for an IPO that could raise up to $1 billion, according to sources cited by Moneycontrol. The Bengaluru-based fintech is expected to be valued at $7–8 billion, marking a significant milestone for India’s startup and financial services ecosystem.
Groww is likely to file its updated Draft Red Herring Prospectus (DRHP) in the coming weeks. The company had confidentially filed for an IPO under SEBI’s pre-filing mechanism on May 26 and was also in discussions to raise capital through a pre-IPO funding round. While specifics of the issue size and structure remain undisclosed, a 10–15% equity dilution would place the IPO size between $700–920 million.
Founded in 2016, Groww offers discount broking, mutual funds, and various financial products. Backed by Tiger Global, Peak XV, and Ribbit Capital, Groww currently leads in mutual fund SIPs and stock broking, with over 12.3 million active users and a 26% share in NSE. In FY25, the firm posted ₹4,056 crore in revenue and ₹1,818 crore in net profit.
