Groww Gets SEBI Nod for $800 Million- $1 Billion IPO
- Groww gets nod to launch IPO worth $800 Million –$1Billion, joining India’s IPO-bound fintechs.
- FY25 revenue Rs 4,056 crore (up 31%) and profit Rs 1,819 crore, showing rapid growth.
- Founded in 2016, raised $600M from top investors; completed costly US reverse flip to list domestically.
Bengaluru-based digital investment platform Groww has received approval from the Securities and Exchange Board of India (SEBI) to launch its initial public offering (IPO). The IPO is expected to be in the range of $800 million to $1 billion.
The move comes a few months after Groww’s parent company, Billionbrains Garage Ventures Ltd, raised Rs 1,735 crore (~$200 million) in June from Singapore’s sovereign wealth fund GIC and existing backer ICONIQ Capital. Groww had filed its draft red herring prospectus (DRHP) on May 26 through the confidential route.
If successful, Groww will become one of the first Indian fintech startups to list domestically after completing a reverse flip of its holding entity from the US. This move cost the company $160 million in taxes to US authorities.
Founded in 2016, Groww has raised around $600 million from investors including Peak XV Partners, Tiger Global, Ribbit Capital, and YC Continuity. Its last valuation, after a $251 million Series E in October 2021, stood at $3 billion.
Financially, Groww has seen strong growth. In FY25, the company reported Rs 4,056 crore in revenue, up 31%, and a threefold rise in profit to Rs 1,819 crore. In FY24, revenue was Rs 3,145 crore with an operating profit of Rs 545 crore, though a one-time Rs 1,340 crore tax on its US domicile shift led to a net loss of Rs 805 crore.
With SEBI’s approval, Groww now joins India’s growing list of IPO-bound fintech startups, marking a key milestone for the country’s startup ecosystem.
