Groww, a prominent Indian fintech unicorn specializing in online investment platforms, intends to launch an initial public offering (IPO) in the next 10 to 12 months, with a valuation of $6 billion to $8 billion.
The Bengaluru-based company, which offers mutual fund investments and UPI-based transactions, has begun discussions with investment banks to select advisors for the IPO. In order to choose advisors for the IPO, Groww has been collaborating with several investment banks.
Incurring a tax expense of $160 million, or nearly ₹1,340 crore, Groww moved its headquarters to India from the United States in the month of March 2024. This IPO will mark it as the first ever Indian digital platform to take this step which will reflect the consistent policy framework and growing domestic capital of India.
The Indian technology sector has seen an increase in public listings, with seven companies going public in 2024, including Swiggy’s $1.35 billion IPO, which was the world’s largest tech listing last year.
Groww Surpassing other Stock Broking Platforms
In December 2024, Groww reported 13.2 million active users, surpassing rivals like Zerodha, which reported 8.1 million active users at the same time. Groww is now one of the leading stockbrokers in India, thanks to a sharp increase in both its user base and financial performance. There were 13.16 million active users on Groww’s NSE by December 2024. Groww’s active user base grew by 2.18% between November and December 2024, suggesting steady user acquisition.
For the fiscal year that ended in March 2024, Groww’s consolidated operational profit climbed from ₹458 crore to ₹535 crore, a 17% increase. Although Groww is actively getting ready for its IPO, the company has not yet set a specific date for the offering, and the precise timeline will depend on market conditions. An important turning point in India’s fintech industry, Groww’s IPO, shows the company’s dominance in online investing. Its creative strategy for making stock market investments easier has drawn in a younger, tech-savvy audience. Groww will solidify its place as a major force in the Indian fintech industry and supply the funds needed to diversify into other financial services and products if the IPO is a success.
