Groww gets Sebi's nod to launch IPO; seeks to raise up to USD 1 bn

New Delhi, Aug 28 (PTI) Billionbrains Garage Ventures, the parent company of stock broking firm Groww, has secured approval from markets regulator Sebi to launch its initial public offering (IPO) aimed at raising between USD 700 million and USD 1 billion, industry sources familiar with the development said on Thursday.

With this, the investment platform could be valued at around USD 7 billion, they added.

The proposed IPO is a combination of a fresh issue of equity shares and an offer for sale (OFS) component.

Billionbrains Garage Ventures, in May, filed a draft red herring prospectus with Sebi through a confidential pre-filing route.

The company, which is backed by marquee investors like Peak XV, Tiger Capital, and Microsoft CEO Satya Nadella, plans to use proceeds of the IPO for investment in technology development and business expansion.

To manage the offering, Groww already appointed JP Morgan India Private Ltd, Kotak Mahindra Capital Company Ltd, Citigroup Global Markets Private Ltd, Axis Capital Ltd, and Motilal Oswal Securities Ltd.

Founded in 2016, Groww is India's largest stock broker with over 12.3 million active clients, holding over 26 per cent market share as of August 2025.

According to ROC filings, the company posted revenues of Rs 4,056 crore and a profit after tax of Rs 1,818 cr for FY25.

In May, Singapore's sovereign wealth fund GIC sought fair trade regulator CCI's approval to acquire a 2.14 per cent stake in Billionbrains Garage Ventures.

Groww has opted for the confidential pre-filing route, which allows it to withhold public disclosure of IPO details under the draft red herring prospectus (DRHP) until later stages. This route is gaining traction among Indian firms aiming for flexibility in their IPO plans. PTI SP HVA