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News Topical, Digital Desk : Groww IPO: Groww, one of the country's largest brokerage platforms, has applied for an IPO of Rs 6,000 to Rs 7,000 crore with SEBI on September 16. It has been learned from the updated draft red herring prospectus (DRHP) filed with the market regulator that the founders of Groww are planning to sell 0.07 percent stake in the company.
Grow was founded in 2016 by Harsh Jain, Lalit Keshre, Ishan Bansal and Neeraj Singh. These four together hold 27.77 percent stake in the company and will be classified as promoters. It is worth noting that all these founding members have been former employees of e-commerce company Flipkart.
Highlights about Groww
Currently, the promoters hold approximately 27.97% of Groww. During the IPO, the promoters will only sell 0.07% of the total shares. The company stated that its number of transacting users was approximately 180 million as of June 30, 2025.
Groww's IPO will consist of a fresh issue of shares worth ₹1.60 crore (approximately $1.6 billion). Additionally, promoters will sell shares worth ₹57.42 crore (approximately $5.74 billion) through an offer for sale (OFS).
Financial Performance
During the first quarter of FY 2026, Grow's net profit was Rs 378 crore, which is 11 percent more than last year. At the same time, the company's revenue during the same period was Rs 904 crore. However, in the first quarter of FY 2025, it was Rs 1,000 crore, that is, there was a decline of about 10 percent in revenue.
Groww's business spans brokerage services, margin funding, and NBFC lending services. Therefore, any changes in RBI and SEBI regulations could directly impact the company's business. Furthermore, the derivatives segment contributes significantly to the company's revenue, making it vulnerable to sector-specific risks.
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