Online Investment Platform Groww receives Sebi Knik to launch IPO

Online Investment Platform GrowW has received approval from the Securities and Exchange Board of India (Sebi) to launch its Initial Public Offer (IPO), according to sources that are aware of the development.

The IPO size is estimated on the range from $ 800 million to $ 1 billion, they added.

Fintech, based in Bengaluru, submitted his concept of Red Herring Prospectus (DRHP) to the market regulator on 26 May.

It has contacted Groww looking for comments about the development.

The IPO papers, which have been submitted via the confidential route, will include each shares of Face Value RS 2, which are mentioned on both the NSE and the BSE. The company’s public application was submitted under billion brains Garage Ventures LTD, the registered business entity of GROWW.

As soon as the IPO continues, GrowW would be one of the first fintech companies that publicly mentioned after entrepreneurship of an inverted flip of his older entity from the US to India. The startup had to pay $ 160 million in taxes to the US authorities for the Flip.growww. Has collected around $ 393 million in financing since its foundation. It has also concluded a $ 200 million financing round on a rating of $ 7 billion, participating with Singapore’s Sovereine Capital GIC and existing investor Iconiq Capital. It had reported for the first time on March 26 that a deal with GIC was in the work. Groww also has Peak XV partners, Tiger Global and Ribbit Capital as the most important investors.

The company reported a more than triple jump in the net profit to RS 1,819 Crore and an increase in sales by 31% to RS 4,056 Crore for FY25.