Saralnama
Billionbrains Garage Ventures, the parent company of stockbroking firm Groww, has received approval from the Securities and Exchange Board of India (SEBI) to launch an initial public offering (IPO) aimed at raising between $700 million and $1 billion. The Bengaluru-based fintech platform expects a valuation of around $7 billion. The IPO will include a fresh issue of equity shares and an offer for sale component. Groww filed its draft red herring prospectus (DRHP) confidentially with SEBI in May and plans to use the proceeds for technology development and business expansion. Founded in 2016, Groww is India’s largest stockbroker with over 12.3 million active clients and a 26% market share as of August 2025. For FY25, the company reported revenues of ₹4,056 crore and a profit after tax of ₹1,818 crore. The IPO will be managed by JP Morgan India, Kotak Mahindra Capital, Citigroup Global Markets, Axis Capital, and Motilal Oswal Securities. Groww’s recent $200 million funding round included participation from Singapore’s sovereign wealth fund GIC and Iconiq Capital. The confidential pre-filing route used by Groww allows withholding public disclosure of IPO details until later stages, a method gaining popularity among Indian firms. (Updated 29 Aug 2025, 09:36 IST; source: link)