IPO Watch: Groww Reportedly Gears Up For Blockbuster IPO, Targets November Listing

India’s largest stockbroking platform, Groww, is reportedly preparing for an initial public offering (IPO) that could value the company at nearly ₹80,000 crore.

According to reports, the company is expected to file its updated draft red herring prospectus (DRHP) this week, with a potential listing in November. If successful, Groww would stand out as one of the few highly profitable startups in India’s IPO pipeline.

Groww filed its IPO under SEBI’s confidential pre-filing route earlier this year, with the offering comprising a mix of fresh equity and an offer for sale. Backed by Peak XV, Tiger Global, and Microsoft CEO Satya Nadella, the firm intends to use IPO proceeds for technology upgrades and expansion.

The company has appointed JP Morgan India, Kotak Mahindra Capital, Citigroup Global Markets, Axis Capital, and Motilal Oswal Securities as lead managers for the IPO.

Robust Operational Metrics

Groww, with 15 million active users, is broadening its portfolio. It recently acquired wealth management platform Fisdom, launched commodities trading for select users, and is expanding its margin trading facility (MTF).

In terms of results, the company reported a net margin of 44.85% in FY25, with profits tripling to ₹1,819 crore and revenue climbing 31% to ₹4,056 crore. 

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