Jay Tiwari
Investment tech unicorn Groww has received approval from SEBI to float its IPO, roughly three months after confidentially filing its papers. The company aims to raise $800 Mn to $1 Bn, with a valuation between $7 Bn and $8 Bn, similar to its $7 Bn Series F valuation in June.
Groww reported a threefold year-on-year increase in net profit to INR 1,818 Cr for FY25. Operating revenue grew 29% to INR 4,056 Cr from INR 3,145 Cr in FY24, demonstrating strong financial growth ahead of its IPO.
The startup holds 26% of the Indian investment tech market and serves over 1.23 Cr users. Groww has been expanding beyond first-time investors, preparing for its IPO by diversifying offerings.
Groww recently launched a professional traders platform called ‘915’ and a wealth management vertical 'W' offering PMS and AIF services for HNIs. The startup also acquired wealthtech company Fisdom in an all-cash deal to enhance its offerings.
Groww becomes the second new-age tech company this year, after PhysicsWallah, to receive SEBI approval via confidential pre-filing. Despite challenging market conditions, several startups such as Meesho, Shadowfax, Snapdeal, and Captain Fresh are preparing IPOs while awaiting SEBI clearance.