Upcoming IPO: Groww Eyes Rs 8,000 Cr Listing — What Makes It Stand Out From Crowd?

Upcoming IPO: Retail investing platform Groww has taken the first step toward going public by confidentially filing draft papers for an IPO with the market regulator SEBI.

The upcoming public issue is expected to raise between Rs 5,800 crore and Rs 8,300 crore (approximately $700 million to $1 billion). It will comprise a mix of fresh equity issuance and an offer for sale (OFS) by existing shareholders.

A Different Path to the IPO

What makes Groww’s IPO filing unique is its choice of the confidential pre-filing route, a relatively new option in India that allows companies to keep IPO details private in the early stages. This gives companies more flexibility and reduces the pressure to go public immediately.

Firms using this route have up to 18 months to launch their IPO after getting SEBI’s final comments, compared to the 12-month limit in the traditional route.

Several high-profile names have also taken this path recently, including Tata Capital, PhysicsWallah, boAt (Imagine Marketing), and Swiggy. Even though some, like OYO, later held off on going public, the confidential route is clearly gaining popularity.

Also Read: Leela Hotels IPO: Is The Rs 3,500 Crore Public Issue Worth Investing In?

Backed by Big Names

Groww is supported by some of the most well-known investors in the world, including Peak XV (formerly Sequoia India), Tiger Global, and Microsoft CEO Satya Nadella. Recently, Singapore's sovereign fund GIC applied to acquire a small stake (2.14%) in Groww’s parent company, indicating strong global interest.

The company has hired top investment banks—JP Morgan India, Kotak Mahindra Capital, Citi, Axis Capital, and Motilal Oswal—to manage the IPO.

Fastest Growing in the Game

Founded in 2016, Groww has rapidly become India’s leading retail broking platform. As of March 2025, it holds over 26% market share in the retail broking space. In just one year, the platform added 34 lakh new accounts, growing its active user base from 95 lakh to 1.29 crore—a 36% jump.

Groww’s success is built on its mobile-first approach, easy-to-use interface, and focus on educating investors. This has helped the company attract a large number of young, first-time investors across India.

Groww Financial Snapshot

Groww became profitable in FY23, reporting a profit of Rs 449 crore on a revenue of Rs 1,277 crore. The trend continued in FY24, with revenue growing to Rs 3,145 crore and an operating profit of Rs 535 crore.

However, the company reported a net loss of Rs 805 crore in FY24, mainly due to a one-time tax payment of Rs 1,340 crore related to shifting its base to India.

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