The Groww IPO is officially in the works! One of India’s fastest-growing wealth-tech platforms has filed confidential papers with SEBI, aiming for an issue size of up to $1 billion (~₹8,494 crore). This could be a major milestone for India’s digital-first stockbroking space.
Groww started with mutual funds, moved into stocks, and now IPOs; a journey that reflects the changing face of investing in India.
- But what does this mean for retail investors?
- Is this IPO a smart move or something to watch from the sidelines?
We’re here to break down the key points without the hype. This isn’t just about Groww’s growth; it’s about what’s next for India’s investing landscape.
So, stay with us to get the full picture behind the Groww IPO buzz and what it could mean for you.
Groww IPO Key Details
Recently, Groww’s parent company, Billionbrains Garage Ventures, shared that it has filed its IPO papers confidentially. Thanks to SEBI’s new rules, they can get feedback without having to make the details public just yet.
You can find all presently available details of the Groww IPO in the table below:
| Details | Information |
| Groww IPO Opening Date | To be announced |
| Groww IPO Allotment Finalization | To be announced |
| Groww IPO Listing Platforms | NSE and BSE |
| Groww IPO Price Band | Not disclosed (Confidential filing route) |
| Groww Total IPO Value | $700 million (~₹5,945.8 crore) – $1 billion (~₹8,494 crore) |
| Groww IPO Issue Size | $700-$1 billion (~₹8,494 crore) |
| Groww IPO Company | Billionbrains Garage Ventures Ltd (Groww) |
| Type of Issue | Fresh Issue + Offer for Sale (OFS) |
| Groww IPO Target Valuation | Up to $7 billion |
| Registrar | To be announced |
| Groww IPO Status | DRHP filed via SEBI’s confidential route (May 2025) |
Data available is as of 26.05.25.
Groww IPO GMP Day-wise Trend Table
Here’s what the grey market buzz looks like so far:
| Date | IPO GMP (₹) | GMP Trend |
| 26 May 2025 | – | – |
| 25 May 2025 | – | – |
| 24 May 2025 | – | – |
Data available is as of 26.05.25.
Note: Groww IPO GMP (Grey Market Premium) hasn’t shown movement yet. Stay tuned for updates as the IPO date approaches; GMP can often hint at listing-day sentiment.
Groww Company Overview: Journey and AMC Expansion
Company Origins
Groww was started back in 2016 by four former Flipkart employees with a simple mission: to make investing easy and paperless for retail investors.
The founders are:
| Founder Name | Designation |
| Lalit Keshre | Co-Founder & CEO |
| Neeraj Singh | Co-Founder |
| Harsh Jain | Co-Founder & COO |
| Ishan Bansal | Co-Founder |
What began as a direct mutual fund platform quickly expanded to include stocks, IPOs, futures & options, and much more.
Key Milestones of Groww
| Year | Milestone |
| 2016 | Founded as a mutual fund investment platform |
| 2019 | Launched stockbroking and ETF services |
| 2021 | Enabled IPO investing; crossed 5M users |
| 2023 | Acquired Indiabulls AMC and entered asset management |
| 2024 | Became India’s largest broker by active clients |
| 2025 | Filed confidential IPO papers with SEBI |
Entry into AMC Business (Indiabulls Acquisition)
To scale further, Groww acquired Indiabulls Asset Management Company and Indiabulls Trustee Company in May 2023 for ₹175.6 crore.
- The deal was approved by the CCI in 2021 and completed in 2023.
- The acquisition excluded Indiabulls’ AIF and PMS arms.
- Post-acquisition, Groww rebranded existing funds as Groww Mutual Fund.
- This made Groww one of the first fintechs in India to own and operate an AMC.
Groww had to pay Rs 1340 Cr in taxes to shift their headquarters from US to India. This led to overall loss of 805 Cr despite making profit on their operations.
Groww Company Funding Details
Funding Total Funding: ₹3,398 crore
Investors :
- Sequoia Capital
- Y Combinator
- Kairos
- Ribbit Capital
- Propel Venture Partners
- Kauffman Fellows Fund
How does Groww Make Money
Groww is a platform that helps people invest their money easily, all from their phone or computer. Here’s what you can do on Groww:
- Invest in mutual funds regularly (SIP) or all at once
- Buy and sell stocks, even on the same day (intraday trading)
- Trade more advanced products like futures and options (F&O)
- Invest in things like ETFs, digital gold, and fixed deposits
- Apply for IPOs easily using UPI
How Groww Earns
- They charge small fees when you trade stocks or F&O
- They get commissions from mutual fund companies when you invest
- They earn interest on the money you keep in your account before investing
- They also earn from selling other financial products
Groww Company Financials
Before the Groww IPO hits the market, it’s important to take a close look at the company’s financials.
This snapshot reveals how healthy and profitable Groww is, helping investors understand its growth story and make smarter decisions ahead of the listing.
Here’s a quick breakdown:
| Particulars | 2020 | 2021 | 2022 | 2023 | 2024 |
| Total Assets | 4,476 | 4,627 | 6,185 | 5,994 | 9,450 |
| Total Liabilities | 2,032 | 2,097 | 3,396 | 3,165 | 5,996 |
| Total Equity | 2,444 | 2,530 | 2,790 | 2,829 | 3,455 |
| Earnings Per Share (Diluted) | 5.76 | 12.62 | 20.51 | 18.84 | 28.93 |
| Debt to Equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Revenue from Operations | 630.00 | 654.65 | 863.53 | 953.94 | 1,618 |
| Other Revenue | 20.83 | 24.20 | 22.83 | 29.10 | 25.40 |
| Expenses | 535.39 | 497.05 | 565.45 | 705.91 | 1,101 |
| Operating Profit Margin | 24.59% | 45.93% | 53.27% | 50.88% | 63.44% |
| Net Profit Margin | 16.53% | 31.76% | 37.73% | 40.82% | 49.65% |
Data available is as of 26.05.25.
Financial Observations
- Groww’s total assets and equity have nearly doubled from 2020 to 2024, showing strong growth.
- The company has zero debt throughout, indicating a clean and healthy balance sheet.
- Earnings per share (EPS) jumped from 5.76 to 28.93, reflecting rising profitability for investors.
- Revenue more than doubled, while expenses increased moderately, supporting business expansion.
- Operating and net profit margins improved significantly, reaching over 63% and 49% respectively by 2024.
Groww Financial Growth Over the Years
Revenue & Net Profit of Groww Over the Years
| Financial Year | Revenue | Net Profit (INR Cr) |
| FY23–24 | ₹3,145 | -₹805 |
| FY22–23 | ₹1,277 | ₹448 |
| FY21–22 | ₹348 | ₹6.80 |
| FY20–21 | ₹40.50 | ₹2.72 |
| FY19–20 | ₹2.90 | -₹7.93 |
Why Is Groww Launching an IPO?
Groww plans to use the funds raised from the IPO to:
- Strengthen its technology and product infrastructure
- Expand into Tier 2 and Tier 3 cities and semi-urban areas
- Broaden its financial product offerings, including insurance and credit
- Cover general corporate expenses and working capital needs
Additionally, the Offer for Sale (OFS) will likely include partial exits by existing investors such as Tiger Global, Peak XV Partners (formerly Sequoia Capital India), and Ribbit Capital.
What to Expect from the Groww IPO
Groww’s IPO isn’t just another listing; it’s a defining moment for India’s digital-first investment platforms.
With a potential $7 – 8 billion (₹59,500 to ₹68,000 crore) valuation and a $1 billion (₹8,494 crore) issue size, here’s what investors should keep in mind:
- Major Digital Milestone: This IPO marks one of the biggest public debuts for a fintech wealth-tech platform in India, reflecting the massive rise in DIY investing.
- Retail Investor Buzz: The platform already enjoys high user trust and wide reach—its IPO could generate strong demand, especially among millennials and Gen Z.
- Profitability Signal: With 5-year profits rising steadily and zero debt, Groww is entering the IPO space with strong fundamentals, which is rare for a tech startup.
- Big Names, Partial Exits: Existing investors like Tiger Global and Peak XV may offload some stake, signaling confidence in public market appetite.
- Expansion Mode ON: The fresh issue will fuel tech upgrades, regional expansion, and entry into new product categories like insurance and credit.
Bottom Line
The Groww IPO is shaping up to be a significant event in India’s evolving fintech and investing space. With a potential $7–8 billion (₹59,500 to ₹68,000 crore) valuation and a $1 billion (₹8,494 crore) issue size, it reflects the rising investor confidence in digital-first platforms.
Over the years, Groww has expanded steadily: from mutual funds to stocks, IPOs, and even asset management, mirroring the broader shift toward tech-led investing solutions.
For retail investors and market watchers alike, this IPO offers an opportunity to observe how a fast-growing wealth-tech brand performs in the public market.
It also raises important questions about profitability, sustainability, and the future direction of digital investing platforms in India.
While it’s still early days and many details remain under wraps due to the confidential DRHP route, there’s no denying that this IPO has sparked considerable interest.
As more updates roll in, be it GMP trends, price band announcements, or listing dates; the market participants will be watching closely.
Whether you plan to invest or simply track the journey, the Groww IPO is certainly one to keep on your radar.
Suggested Read: Prostarm Info Systems Limited IPO 2025: GMP, Price Band, Key Dates & Other Important Details
FAQs
What is the next big IPO in India?
Several companies are lined up for their IPO launch in 2025. However, predicting which one will turn out to be the best investment is difficult and depends on multiple market factors.
Here are a few IPOs that are currently active or scheduled:
Current IPOs
- Schloss Bangalore Limited
- Aegis Vopak Terminals Limited
Upcoming IPOs
- Prostarm Info Systems Limited
- Scoda Tubes Limited
Investors are advised to review the draft red herring prospectus (DRHP), financials, and market sentiment before applying for any IPO.
Is Groww listed in the stock market?
No, Groww is not currently listed on any stock exchange.
However, the company has filed a confidential Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO).
Is Groww planning for IPO?
Yes, Groww is planning an IPO. The company aims to raise between $700 million and $1 billion through this offering.
The IPO will include a fresh issue of shares and an offer for sale by existing shareholders.
When was Groww launched in India?
Groww was founded in 2016 by Lalit Keshre, Harsh Jain, Ishan Bansal, and Neeraj Singh.
The company launched its operations in 2017 as a direct mutual fund investment platform.
When is the Groww IPO expected to open?
As of now, Groww has not announced the exact opening date for its IPO.
The company has filed a confidential DRHP with SEBI, and the IPO is anticipated to open later in 2025, subject to regulatory approvals and market conditions.
