Groww receives approval for IPO

SEBI has approved Billionbrains Garage Ventures, the parent company of Groww, a stock broking and wealth management platform, to go for IPO. The company is expected to file its updated DRHP publicly in the following weeks. The issue size is expected to be between USD 700 million and USD 1 billion, and it could be a mix of fresh issue and offer for sale. To manage the offering, Groww already appointed JP Morgan India Private Ltd, Kotak Mahindra Capital Company Ltd, Citigroup Global Markets Private Ltd, Axis Capital Ltd, and Motilal Oswal Securities Ltd.

Groww is an Indian online investment platform that allows users to invest in mutual funds, stocks, ETFs, fixed deposits, and other financial products. It was founded in 2016 with the goal of simplifying the investment process, particularly for new and first-time investors. The platform operates fully digitally, offering features like paperless onboarding and a user-friendly interface. Groww also includes educational content to help users better understand their investment choices. Supported by several global investors, the company has seen significant growth in recent years.

As per reports, Groww has reported a revenue of Rs 4056 crore and a profit after tax of Rs 1818 crores for 2025 financial year. Earlier this year, they raised $200 million at a $7 billion valuation in a funding round led by Singapore’s GIC and Iconiq Capital.