Groww raises Rs 2,984.5 crore from anchor investors
04 Nov 2025, 11:20 AMThe anchor round saw participation from 17 domestic mutual funds, including HDFC, Kotak, SBI and Axis Bank.
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Fintech major Groww has raised Rs 2,984.5 crore from anchor investors as its initial public offering (IPO) opens for bidding.
Anchor investors subscribed to 29.84 crore equity shares of the company at a price of Rs 100 apiece.
The anchor round saw participation from 17 domestic mutual funds, including HDFC, Kotak, SBI, Axis Bank, Aditya Birla Sun Life, Motilal Oswal, and Mirae Asset, which collectively subscribed to 13.90 crore equity shares or 46.6% of the shares.
Other investors who participated included Goldman Sachs, Societe Generale, ADIA (Abu Dhabi Investment Authority), Government of Singapore, MIT (Massachusetts Institute of Technology), Steadview Capital, Ghisallo Capital Management, and Founder Collective.
The three-day IPO closes on Friday, and the company is expected to make its public market debut on November 12.
Groww has set a price band of Rs 95 to Rs 100 for its public offering. The IPO comprises a fresh issue of up to Rs 1,060 crore and an offer for sale (OFS) of shares worth Rs 5,572 crore by investors including Peak XV, Ribbit Capital and Y Combinator. At the upper end of the price band, the total size of the IPO would be over Rs 6,600 crore, valuing Groww at around $7 billion.
The Bengaluru-based company has said it will use the fresh capital raised from the IPO towards marketing initiatives, strengthening the cash reserves of its NBFC arm, as well as improving its cloud infrastructure.
Groww was founded by Lalit Keshre, Harsh Jain, Ishan Bansal, and Neeraj Singh in 2016. The founders are former employees of Flipkart, where they worked in various technology and product roles. The startup is a wealth management and investment platform that allows users to invest in mutual funds, stocks, derivatives, exchange-traded funds (ETFs), initial public offerings (IPOs), sovereign gold bonds, fixed deposits, and US stocks.
Another fintech major Pine Labs is also set to launch its IPO this week while Walmart-backed PhonePe filed for IPO via the confidential route last week.
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