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Groww IPO: Groww plans to list its equity shares (face value Rs 2 each) on NSE and BSE’s main boards.
Groww makes first move to bring its IPO.
Groww IPO: The online brokerage firm Groww is reportedly filed confidential IPO papers with the market regulator SEBI on Monday. The company seeks comments from SEBI on IPO without disclosing its IPO documents to the public. The process is now at pre-filing mechanism before submitting DRHP (Draft Red Herring Prospectus) later.
Groww’s parent entity Billonbrains Garage Ventures Limited said in a public notice on Monday that the DRHP was submitted under Chapter IA of the SEBI ICDR Regulations.
Earlier, MoneyControl reported that Groww is simultaneously looking to raise about $150 million (Rs 1272 crore). The valuation of Groww will likely increase to $7 billion post-money valuation.
MoneyControl reported that the issue size could be in the range of $700-800 million (Rs 5942-6791 crore), given IPO valuation of $7-8 billion amid the market sentiment and volatility.
Groww plans to list its equity shares (face value Rs 2 each) on NSE and BSE’s main boards.
Its consolidated operational profit increased by 17 percent to Rs 535 crore for the year ending March 2024, compared to Rs 458 crore reported the previous year. The consolidated revenue for FY23 was Rs 1,435 crore.
Founded in 2017, Groww was started as a direct mutual fund distributor platform by four ex-Flipkart employees – Lalit Keshre, Harsh Jain, Ishan Bansal and Neeraj Singh.
Following user demand, Groww added stocks in the early half of 2020 and the same year launched digital gold, ETFs, Intraday trading, IPOs in quick succession.
Today, Groww is the largest stock broker based on active clients. As of March 2025, its total subscriber base is at 13.03 million (1.3 crore).
Its competitor Angel One brought its IPO in September 2020, at the price band of Rs 305 to Rs 306 per share. The company raised Rs 600 crore via IPO. Angel One IPO bidding started from September 22, 2020 and ended on September 24, 2020. The allotment for Angel One IPO was finalized on Tuesday, September 29, 2020. The shares got listed on BSE, NSE on October 5, 2020. While Zerodha isn’t a listed entity.
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