India’s fintech story has been rewritten in less than a decade, and Groww is its most resounding chapter. From a mutual fund discovery platform launched in 2016 by four Flipkart alumni, Groww has grown into India’s largest online broker and a full-fledged wealth-tech giant. With a confidential IPO filing already in place and SEBI review underway, Groww’s listing is set to be one of the most anticipated market events of 2025–26.
This article traces the latest Groww IPO updates and key milestones on the company’s journey to the IPO.
Table of Contents
Latest Groww IPO News
Groww IPO News (October 2025): Launches Commodity Trading Ahead Of IPO
IPO-bound Groww has begun piloting commodities trading—covering crude oil, gold, silver, and natural gas—via the Metropolitan Stock Exchange, currently invite-only. This move expands its offerings amid SEBI’s F&O restrictions and declining market activity.
Groww IPO Dates
Groww plans its INR 7,000 crore IPO in early November of 2025, valuing it at about USD 8 billion (~INR 70,904 crore). The issue includes INR 1,060 crore fresh shares and an OFS by investors, including Satya Nadella. Revenue fell 9.6% to INR 904 crore, while profit rose 12% to INR 378 crore, with 12.6 million active NSE clients.
Groww IPO Approval
Groww, India’s largest stockbroker, has received SEBI’s approval for its IPO, expected in Q4 2025 to raise USD 700M–1B (~INR 8,800 crore) at a USD 7–9B (~INR 79,000 crore) valuation.
Groww IPO Latest News: SEBI Review & IPO Buzz (August 2025)
SEBI’s confidential review of Groww’s Draft Red Herring Prospectus (DRHP) is underway. Market chatter suggests a public filing by Q4 2025, setting up one of India’s biggest tech IPOs. Grey market activity and institutional investor interest indicate strong demand expectations.
July 2025: Leadership & Fund Management Changes
Paras Matalia was appointed Fund Manager for Groww’s ELSS Tax Saver Fund, while also joining the Board of Groww Trustee Company. These moves strengthen Groww’s asset management capabilities as it deepens its presence in the mutual fund space.
Groww IPO News (June 2025): Roadshows & Listing Preparations
Investor roadshows across global financial hubs have been conducted, with Groww courting anchor and institutional investors. Syndicate bank discussions, IPO structuring, and price band deliberations are in the final stages.
Groww Confidential IPO Filing: 26 May 2025
Groww filed its confidential DRHP with SEBI, leveraging new rules that allow tech companies to resolve compliance concerns before public scrutiny. Groww IPO size is expected to be in the range of INR 6,000 to 8,300 crore.
Groww Pre-IPO Funding & Diversification: March 2025
Groww raised USD 200M (~INR 1,713 crore) led by GIC and Tiger Global, at a valuation of USD 6.5–7 billion (~INR 61,208 crore). Proceeds are being channelled into product expansion, compliance readiness, and brand-building. The same month, Groww announced the launch of Groww Wealth, a division covering mutual funds, PMS, and future lending products.
Groww IPO Update: Major Milestones
2025: Hyper-Growth & Strategic Moves
- Fisdom Acquisition (May 2025): Acquired wealth-tech startup Fisdom in a ~USD 150 million (~INR 1,311 crore) cash deal to expand distribution and advisory capabilities.
- Corporate Bonds Expansion: Applied for SEBI’s OBPP license, signalling entry into fixed-income distribution.
- Product Launches: Introduced India’s first Power ETF and ETF FoF (July 2025). Rolled out “Groww 915,” an advanced professional trading terminal aimed at serious traders.
- FY25 Results: Reported INR 1,819 crore net profit, a three-fold jump from FY24, marking a sharp pivot to profitability.
Groww IPO News 2024: Regulatory Wins & Financial Scale
- Shifted domicile from the U.S. to India, absorbing one-time tax costs.
- Secured an RBI Payment Aggregator license, launching Groww Pay (UPI payments).
- FY24 revenues reached INR 3,145 crore, though a net loss of INR 805 crore was recorded due to redomiciling tax charges.
Groww IPO Update 2021–2023: Unicorn Status & Market Leadership
- Series E (2021): Raised USD 251 million (~INR 2,194 crore) led by ICONIQ Growth, reaching a USD 3 billion valuation (~INR 26,232 crore).
- Acquisitions: Acquired Indiabulls AMC, becoming a direct mutual fund provider.
- User base crossed 13M active broking clients, surpassing Zerodha and Angel One.
Groww News 2016–2020: Foundation & Expansion
- 2020: COVID-led Inflexion Point
- The COVID-19 lockdown was a historic turning point. Millions of Indians, many of them first-time investors, opened Demat and trading accounts on Groww.
- The platform reported 200%+ growth in first-time investors, cementing its position as India’s go-to retail investing app.
- Groww expanded into intraday trading and Futures & Options (F&O), evolving from a “mutual fund app” into a full-stack brokerage and wealth-tech platform.
- The company raised USD 30M (~INR 262.32 crore) in Series C (2020, led by YC Continuity) and prepared for its next leap with Series D funding of USD 83M (~INR 725.76 crore), early 2021, led by Tiger Global.
- 2019: Diversification & Growth
- Expanded product suite by adding stock broking services, ETFs, Digital Gold, and IPO applications.
- Secured USD 6.2M (~INR 54.21 crore) in Series A (Sequoia India, 2019) and USD 21.4M (~INR 187.12 crore) in Series B (Ribbit Capital, YC Continuity, 2019).
- These rounds gave Groww the resources to accelerate tech and product innovation.
- 2018: Seed Funding & Y Combinator Breakthrough
- Selected for the Y Combinator Winter 2018 batch, which gave Groww mentorship, global credibility, and an investor network.
- Raised USD 1.2M (~INR 10.49 crore) in seed funding from Y Combinator and CureFit founders, fueling early product scale-up.
- 2017: Early Traction
- Launched its web-based mutual fund distribution portal in May 2017; ~600 users signed up in the first month, validating demand.
- Released the Groww mobile app in December 2017, which unlocked mass adoption in mobile-first India.
- 2016: Foundation Year
- Founded in Bengaluru by Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal, all ex-Flipkart employees.
- Their vision: a transparent, low-cost, tech-driven investing platform to democratize finance for Indian retail investors.
👉 Over this four-year period, Groww raised more than USD 140 million (~INR 1,224 crore) across Seed to Series D and transformed from a niche mutual fund distributor into a multi-asset investment platform, setting the foundation for its eventual IPO journey.
Groww Financial Highlights
| Fiscal Year | Revenue | Net Profit | Major Milestones |
|---|---|---|---|
| FY24 | 3,145 | 545 | Domicile shift, RBI license, Groww Pay launch |
| FY25 | 4,056 | 1,819 | Fisdom acquisition, bond entry, 3× profit surge |
Operational footprint: 50M+ registered users, 13.23M active NSE clients, commanding ~23.4% retail market share in broking.
Groww IPO Dates & Capital Moves
- Groww IPO Size: INR 6,000–8,300 crore.
- Groww Share Price: Groww unlisted shares are currently priced at INR 2,308 per share.
- Groww Valuation: USD 7B (~INR 61,208 crore) post-Series F.
- Groww IPO Expected Date: Q4 2025 or Q1 2026 (subject to SEBI clearance).
- Use of Proceeds: Product innovation, expansion into fixed-income & wealth management, technology infrastructure, and regulatory compliance.
- Governance: Founder-led (Billionbrains Garage Ventures as parent), but strengthening independent board oversight and fund management leadership.
Verdict
Groww’s IPO is not just a listing—it’s a litmus test for India’s fintech maturity. With profitability achieved, new verticals in bonds and advanced trading, and a dominant retail broking position, Groww represents the new face of Indian capital markets.
Strengths: Massive retail user base, diversified wealth-tech ecosystem, profitable growth, and strong institutional backers (Tiger Global, GIC, ICONIQ, YC).
Risks: Regulatory scrutiny, intense competition (Zerodha, Angel One, new entrants), and market volatility.
Yet, with its aggressive innovation, proven leadership, and clear retail trust, Groww’s IPO could define India’s fintech decade—an unmissable event for investors and market-watchers alike.