The Groww IPO has received approval from the Securities and Exchange Board of India (SEBI), clearing the path for the online broker and wealth platform to go public, paving the way for an IPO that could raise up to $1 billion at a valuation of $7–8 billion, according to a Moneycontrol report citing people familiar with the matter.
Groww IPO: What’s approved and what’s next?
Groww is expected to publish an updated Draft Red Herring Prospectus (DRHP) in the coming weeks. The company had confidentially pre-filed for an IPO on May 26 under SEBI’s pre-filing mechanism, its first formal step toward a market debut. The plan is to list equity shares with a face value of ₹2 each on both the NSE and BSE; finer details such as the fresh issue size and offer-for-sale are yet to be disclosed.
Sources indicated Groww is aiming for a conservative $7-8 billion valuation in line with market conditions. On that range, a 10-15% equity dilution would imply an issue size of roughly $700-920 million.
The business at a glance
Founded in 2016, Groww operates one of India’s largest retail investing platforms, spanning discount broking, direct mutual funds, and other investment products. It competes with Zerodha and Upstox and counts Tiger Global, Peak XV Partners, and Ribbit Capital among key backers.
Financial performance & scale
Regulatory filings show FY25 revenue of ₹4,056 crore and profit after tax of ₹1,818 crore, tripling net profit year-on-year. Earlier this year, the company raised $200 million at a $7 billion valuation in a round led by Singapore’s GIC and Iconiq Capital.
On the operating side, Groww has emerged as a leader in retail investing, with the largest market share in mutual fund SIP distribution and stock broking in India. As of August 2025, it reported over 12.3 million active clients and more than 26% share on the NSE.
Market context
The SEBI approval lands amid a softer retail cycle: leading discount brokers Groww and Zerodha together lost about 11 lakh active investors in the first half of 2025, reflecting heightened volatility and muted retail participation.
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