Groww IPO: India's Leading Stock Broking Platform Goes Public

Groww, Indian stock broker parent company Billionbrains Garage Ventures, has filed draft papers with SEBI for its much-anticipated Initial Public Offering (IPO). The company, which has revolutionized retail investing in India through its mobile-first approach, is targeting to raise between $700 million to $1 billion through this public offering, marking one of the largest fintech IPOs in recent times.

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Groww IPO Date

Current Status: Draft Papers Filed with SEBI

Groww filed its draft papers with SEBI through the confidential pre-filing route on May 26, 2025. This approach provides the company with greater flexibility in managing its IPO timeline and disclosure requirements.

Expected Timeline:

Groww IPO Price Band, Issue Size

Price Band: To be announced after public DRHP filing

The final price band will be determined through the book-building process, considering various factors, including market conditions, peer evaluations, and investor feedback during roadshows.

Target IPO Size: $700 million to $1 billion (Rs 5,800-8,300 crores approximately)

About Groww

Groww, founded in 2016, is an investment platform operated by Billionbrains Garage Ventures Private Limited. Headquartered in Bengaluru, Groww has redefined how Indians approach investing by offering a streamlined, user-friendly platform for mutual funds, stocks, ETFs, and digital gold.

By focusing on investor education and creating seamless digital experiences, Groww has been able to grow rapidly, attracting millions of users across India. The business has backing from leading global investors, and the business's mission is to democratize investing and empower financial literacy, so more people can confidently participate in capital markets. The company has developed a very innovative style of delivery, and an ethos focused on its customers. This has converted it to a trusted option for investors, be them new or established.

Groww IPO DRHP Filing

Filing Status: Confidential Pre-DRHP Filed ✓

Groww has filed DRHP through the confidential pre-filing route under SEBI's regulations, joining the growing list of Indian companies.

Filing Details:

• Route: Confidential pre-filing under SEBI regulations
• Regulatory Advantage: Allows withholding of public disclosure until later stages
• Timeline Flexibility: 18-month window to launch IPO after final approval
• Size Modification: Can adjust primary issue size by up to 50% until updated DRHP stage

Recent Trend: Groww joins other prominent companies like Shiprocket, Tata Capital, PhysicsWallah, and boAt's parent company, Imagine Marketing, in choosing the confidential filing route. Successful examples include Swiggy and Vishal Mega Mart, both of which completed their IPOs in 2024 after similar filings.

Financial Performance Analysis

Financial Highlights:

Groww's financial journey showcases strong operational performance with consistent profitability despite a one-time tax impact in FY24.

FY24 Performance:

• Revenue: Rs 3,145 crores (significant growth from FY23)
• Operating Profit: Rs 535 crores (strong operational efficiency)
• Net Loss: Rs 805 crores (due to one-time tax payment of Rs 1,340 crores)
• Tax Impact: India's domicile move resulted in substantial one-time payment

FY23 Performance:

• Revenue: Rs 1,277 crores
• Net Profit: Rs 449 crores (achieved profitability milestone)
• Profitability Status: Turned profitable, demonstrating business model viability

Key Financial Insights:

• Revenue Growth: Exceptional growth trajectory from FY23 to FY24
• Operating Leverage: Strong operating profit margins indicating efficient operations
• One-Time Impact: FY24 net loss primarily due to regulatory compliance costs
• Underlying Profitability: Core business remains highly profitable

Conclusion

Groww is planning to go public and raise $700 million to $1 billion. This will be one of India's biggest fintech IPOs. The company filed its papers with SEBI in May 2025 and expects to list by late 2025 or early 2026.

The company's numbers show growth. Revenue went from Rs 1,277 crores in FY23 to Rs 3,145 crores in FY24. However, it posted a loss in FY24 due to one-time tax payments, though it had Rs 535 crores in operating profit.

For potential investors, this IPO represents exposure to India's retail investing sector. The company will need to maintain its user base and profit.

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