At the top end, the company will be valued at ₹61,736 crore ($7 billion). The IPO — one of the largest this year — will open for subscription between November 4 and 7.
It comprises a fresh issue worth ₹1,060 crore and an offer for sale of ₹5,572 crore, with early investors, such as Tiger Global and Peak XV Partners, offloading part of their holdings. Proceeds from the fresh issue will be used to strengthen the company’s Cloud infrastructure, invest in subsidiaries, and fund potential acquisitions. Groww’s public offering comes amid a surge in retail investors entering the securities market, both through direct equity investing and mutual fund channels.
The company is India’s largest broker, accounting for about a fourth of the country’s active clients. Nearly a third of systematic investment plans (SIPs) are routed through its platform. Groww aims to become India’s leading wealth platform, said Lalit Keshre, cofounder and chief executive officer (CEO) of Billionbrains Garage Ventures. “We want to be a multiproduct platform that offers everything you need to build wealth,” Keshre told Business Standard.
He said the company is currently focused on scaling its recently-launched wealth management platform for high-net-worth individuals, branded “W,” along with its margin trading facility (MTF). “We will expand further once these products achieve full adoption. Our launches are sequenced carefully,” Keshre added.
Groww recently introduced commodity trading services and, in July, enabled bond purchases through its app. Keshre attributed the company’s rapid growth to strong tailwinds such as improved digital infrastructure, deeper internet penetration, and policy shifts leading to greater financialisation of savings.
These factors, he said, have eased customer onboarding and supported long-term growth.
On the impact of new regulations, including Sebi’s revised derivatives framework and updated true-to-label norms, Keshre said Groww’s multiproduct strategy has made it more resilient to industry disruptions compared to its peers.
Groww’s commission and fee income declined to ₹729 crore for the quarter ended June 2025, from ₹883 crore in the same period a year earlier.
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