Stock broker Groww gets Sebi nod for $1 billion IPO
28 Aug 2025, 11:13 PMThe markets regulator has given approval to Groww's IPO papers, which the platform had filed confidentially in May.
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Stock broking platform Groww has received approval from the Securities and Exchange Board of India (Sebi) to proceed with its initial public offering (IPO), which it had filed confidentially three months ago.
The investment platform is looking to raise around $700 million to $1 billion through IPO, at a valuation of about $7-$8 billion.
In a public notice published in newspapers on May 25, the parent entity of Billionbrains Garage Ventures Ltd stated the company had filed the pre-filed DRHP with Sebi and the stock exchanges in relation to the proposed initial public offering of its equity shares on the main board of stock exchanges.
The pre-filing mechanism, introduced by SEBI in 2022, allows companies to privately submit their DRHPs. The document remains confidential until the firm decides to go public.
In June, the platform -- which has over 13 million active users monthly -- in June closed a $200 million funding from Singapore's sovereign wealth fund GIC and ICONIQ Capital at a valuation of $7 billion.
Groww counts Peak XV Partners, Tiger Global, Ribbit Capital, and Y Combinator’s Continuity Fund among its investors. It had raised $251 million in its Series E round in October 2021, at a valuation of $3 billion.
During FY25, the company saw its revenue from operations jump to Rs 3,844 crore, against Rs 2,958 crore in FY24. The 'other income' during FY25 stood at Rs 212 crore, taking the total revenue to Rs 4,056 crore. In FY24, the company's total revenues stood at Rs 3,145 crore.
The Bengaluru-based firm saw its net profit reaching Rs 1,819 crore in FY25, compared to a net loss of Rs 798.76 crore in FY24.
The FY24 losses were driven by a one-time tax expense of Rs 1,340 crore related to its domicile shift to India.
The development was first reported by Moneycontrol.
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