Groww gets Sebi approval for $1 billion IPO at $7-8 billion valuation

Groww has received Sebi approval for its $1 billion IPO, which will be India's largest capital market fundraise, valuing the firm at $7-8 billion after profit tripled in FY25

Investment platform Groww has received approval from the Securities and Exchange Board of India (Sebi) to proceed with its initial public offering (IPO) to raise around $1 billion, according to people aware of the development.

 

The IPO will be the largest fundraise by an Indian capital market firm through the primary market.

 

The offering is expected to value the stockbroking and mutual fund investment platform at $7–8 billion. In June, the firm raised $202.3 million from GIC and ICONIQ Capital at a valuation of $7 billion.

 

The company had confidentially filed for IPO approval on May 26. A confidential filing allows companies to seek the regulator’s comments without disclosing IPO documents publicly.

 

 

Founded in 2016, Groww is the largest stockbroker in India with 12.6 million active users. It is also the most used app for mutual fund investments. The firm entered the wealth management space in May 2025 through the acquisition of wealthtech startup Fisdom in an all-cash deal worth $150 million.

 

The company posted a net profit of Rs 1,818 crore in financial year (FY) 2025, up threefold compared to the previous year, according to sources. Revenue stood at Rs 4,056 crore.

 

Messages sent to Groww did not elicit a response till press time.

 

In November last year, Groww re-domiciled from the United States to India to pursue listing on domestic stock exchanges. The stockbroker is backed by investors including Tiger Global, Peak XV Partners and Ribbit Capital.