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News Topical, Digital Desk : Stock broking and wealth management platform Groww has received initial approval for its IPO from the securities market regulator SEBI. Moneycontrol has written in a report citing sources that this IPO can raise up to $1 billion. The valuation of this Bangalore-based fintech company is expected to be $7-8 billion, which is a big step for India's startup and financial services sector.
Groww had confidentially applied for IPO on 26 May under SEBI's pre-filing process. Earlier, media reports had said that the company is preparing to apply to SEBI. Also, it is in talks to raise new capital from investors in the pre-IPO round.
What information has been received on IPO so far?
The company plans to list its equity shares of Rs 2 face value on the mainboard of NSE and BSE. However, the details of the size of the IPO, fresh issue and offer for sale (OFS) have not been revealed yet. At what valuation is the IPO being prepared? According to sources in this report, Groww is planning to bring an IPO with a valuation of $7-8 billion keeping in mind the current market conditions and volatility. Based on this, a 10-15% equity stake sale can raise an amount of $700-920 million. Big investors investing in Groww? Launched in 2016, Groww is one of India's leading wealthtech platforms. The company offers services of online discount broking, direct mutual fund investment and other financial products. It competes with companies like Zerodha and UpStox and its major investors include Tiger Global, Peak XV Partners and Ribbit Capital. This news comes at a time when Groww and Zerodha together lost about 11 lakh active users in the first half of 2025. This has been seen due to market volatility and low retail participation.
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