Groww files revised DRHP with SEBI

Billionbrains Garage Ventures, Groww’s parent company, has filed its updated draft red herring prospectus with SEBI for an IPO expected to raise around ₹7,000 crores.

The issue comprises a fresh share sale of ₹1,060 crores and an offer-for-sale component of 5.74 crore shares by existing investors. The OFS is expected to be valued between ₹5,000-6,000 crores, making this one of the larger fintech listings in recent years.

From the fresh issue proceeds, Groww will allocate ₹225 crores for marketing activities, ₹205 crores to its NBFC subsidiary, ₹167.5 crores to its mutual fund arm, and ₹152.5 crores for technology infrastructure.

The company reported a profit of ₹1,824 crores in FY25 compared to a ₹805 crore loss in FY24. Revenue grew 50% to ₹3,901 crores. Q1 FY26 saw revenue decline 10% to ₹904 crores, though profit increased 11% to ₹378 crores.

Groww currently holds 26.27% market share with 1.3 crore active clients and captured 45% of net new client additions over the past year. The company is targeting a $7-8 billion valuation, consistent with its last private funding round.

SEBI had cleared the company’s confidential filing in August after Groww initially submitted papers in May. The IPO is expected to list on both NSE and BSE, with final dates and pricing to be announced following regulatory approvals.