Groww’s Big Leap: Preparing for a Groundbreaking IPO
Exciting news is on the horizon as Groww, India’s largest retail stockbroker, gears up for a highly anticipated Initial Public Offering (IPO) within the next 10 to 12 months. The company is eyeing a significant valuation between $6 billion and $8 billion, according to sources familiar with the developments, as reported by TechCrunch.
This IPO marks a milestone as the first of its kind for a digital trading platform in India. Just to put things into perspective, the targeted valuation is more than twice its last known valuation of $3 billion back in October 2021. Backed by heavyweights like Peak XV, Tiger Global, and Alkeon, Groww is actively engaging with investment banks and will soon finalize its advisors for this monumental step.
“India’s growing domestic capital and policy continuity are driving the IPO surge,” said Abhinav Bharti, JPMorgan’s head of equity capital markets for India.
— TechCrunch Interview
Groww has been making waves not just with its stock trading prowess but also by offering mutual fund investments and UPI transactions. Interestingly, the company shifted its domicile to India from the U.S. last year, aligning itself strategically for this IPO endeavor.
- 13.2 million active users in December 2023
- Adding 325,000 to 550,000 new users monthly
- Outpaced rivals like Zerodha significantly
The Indian market has been bustling with tech IPOs lately. In 2024 alone, seven tech startups went public, with Swiggy’s massive $1.35 billion IPO leading the charge globally. Looking ahead, more than 20 Indian startups are gearing up for IPOs in 2025, including notable names like Zetwerk and PharmEasy.
Abhinav Bharti highlighted India’s unique position in offering political stability and consistent policies as key factors propelling this wave of public offerings. With the market capitalization doubling to $5.3 trillion since 2019 and daily trading volumes tripling to $15 billion, India presents an attractive landscape for tech companies eyeing public investments.
As Groww prepares for its next chapter, it stands at the forefront of innovation and growth in India’s dynamic financial sector. Stay tuned as we watch this exciting journey unfold!
