Groww Plans IPO Relaunch, Targets ₹800B Value

Mutual fund investment platform Groww is gearing up for an initial public offering (IPO) that could value the company at around ₹80,000 crore.

The Bengaluru-based fintech firm is expected to submit its updated draft red herring prospectus (DRHP) this week, with a potential listing in November. If successful, Groww would emerge as one of the rare highly profitable tech startups in India's IPO pipeline, according to a Moneycontrol report.

The stockbroking platform has estimated a net margin of 44.85% for FY25. The company earlier targeted a valuation of $7-8 billion, but robust FY25 results and a strong Q1 performance in FY26 may push valuations higher.

In FY25, Groww's profit jumped three-fold to ₹1,819 crore, while revenue rose 31% year-on-year to ₹4,056 crore. The company also recorded profit growth in Q1 FY26, even as several industry peers faced pressure on margins and revenue following regulatory changes introduced over the past year.

Earlier in 2025, Groww filed its IPO papers with the Securities and Exchange Board of India (SEBI) under the confidential pre-filing route, which allows companies to delay public disclosure of DRHP details.

The filing was made through Billionbrains Garage Ventures Ltd, Groww's registered corporate entity. Last month, SEBI cleared the company's IPO proposal, which will include a mix of fresh equity issuance and an offer for sale (OFS).

Groww, backed by investors such as Peak XV, Tiger Global, and Microsoft CEO Satya Nadella, plans to channel IPO proceeds into technology development and business expansion.

Founded in 2016, the company has become India's largest stockbroker, with an estimated 15 million active users. To manage its offering, Groww has appointed JP Morgan India, Kotak Mahindra Capital, Citigroup Global Markets, Axis Capital, and Motilal Oswal Securities as lead managers.