Groww has secured regulatory approval from the Securities and Exchange Board of India (SEBI) to launch its initial public offering (IPO), marking a major milestone for the country’s digital finance ecosystem. The upcoming IPO is expected to raise between USD 700 million and USD 1 billion, positioning it among the largest fintech listings in India’s history. This public offering is expected to value the Bengaluru-based company at approximately USD 7 to 8 billion, reflecting its substantial presence in the retail investment sector.
Founded in 2016 by former Flipkart executives Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal, Groww has risen rapidly to become the market leader in discount broking and wealth management. As of August 2025, the platform boasts over 12.3 million active users, holding more than 26 percent market share on the National Stock Exchange. Groww’s offerings extend beyond stocks to include direct mutual fund investments and other wealth-generation tools, making investment accessible to a broad segment of Indian retail investors.
The planned IPO, filed confidentially with SEBI in May 2025, will list equity shares on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). The share offer will include a mix of fresh shares and an offer-for-sale by existing shareholders. JPMorgan Chase and Kotak Mahindra Bank have been appointed as lead managers for the offering.
Financially, Groww has demonstrated strong performance with revenue surging by over 31 percent to Rs 4,056 crore and net profit tripling to Rs 1,818 crore in the fiscal year ending 2025. Despite challenges in the Indian brokerage industry, including reduced active investors due to regulatory tightening in futures and options trading, Groww has maintained its growth trajectory and market leadership. The company’s major backers include Tiger Global, Peak XV Partners, and Ribbit Capital.
Beyond its IPO ambitions, Groww is innovating with artificial intelligence by developing in-house AI agents to enhance personalized investment experiences. This development aligns with its mission to empower individual investors and democratize wealth creation in India.
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The SEBI nod for Groww’s IPO is a landmark event for the Indian fintech sector, signaling growing investor confidence and the maturation of the digital investment market. The public listing, expected to take place in late 2025, is poised to be a defining moment for both Groww and the broader industry as the company transitions from a startup to a publicly traded enterprise.
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