India’s largest online brokerage platform, Groww, is expected to announce its Initial Public Offering (IPO) as early as next week.
The IPO will be filed by its parent company, Billionbrains Garage Ventures Ltd., in Mumbai.
One key highlight is that Microsoft CEO Satya Nadella is an investor in Groww, which adds strong credibility to the company.
According to a report by Bloomberg, the company plans to raise between $650 million to $800 million (approximately ₹5,720 to ₹7,040 crore) at a valuation of up to $8 billion.
If successful, Groww will become India’s largest listed brokerage firm.
Regulatory Approvals and Investor Support
As per Moneycontrol, Groww has already received approval from SEBI (Securities and Exchange Board of India) to move forward with the IPO.
Additionally, SEBI is considering reducing the minimum public float requirement from 10% to 8%, which could ease the listing process for large IPOs like this one.
Groww is backed by several major investors, including Peak XV Partners, Ribbit Capital, and Tiger Global Management.
Top financial institutions such as JPMorgan Chase, Kotak Mahindra Bank, Citigroup, Axis Bank, and Motilal Oswal Investment Advisors are working as advisors for the IPO.
This strong lineup of investors and advisors adds confidence in Groww’s potential and long-term growth.
User Growth and Market Presence
As of August, Groww had over 1.2 crore active clients, which makes up around 26% of all active users on the National Stock Exchange (NSE).
This shows how quickly the platform has gained popularity among Indian retail investors.
Although the final IPO size and date are yet to be confirmed, experts believe this could be a major opportunity for Indian investors, and a milestone for tech-driven investment platforms in India.
