About the Company
Groww is an Indian online investment platform that allows users to invest in mutual funds, stocks, ETFs, fixed deposits, and other financial products. It was founded in 2016 with the goal of simplifying the investment process, particularly for new and first-time investors. The platform operates fully digitally, offering features like paperless onboarding and a user-friendly interface. Groww also includes educational content to help users better understand their investment choices. Supported by several global investors, the company has seen significant growth in recent years as more individuals in India turn to digital platforms for managing their finances.
Valuation
The company raised $251 million in 2021 and was valued at $3.1 billion. Since inception, Groww has raised $393 million. Last year, its private-market value reportedly dipped below $2 billion after it merged its US-based holding company with its Indian parent Billionbrains Garage Ventures.
Operations and Performance
Groww offers access to financial products such as mutual funds, stocks, ETFs, and fixed deposits via its website and mobile application. The platform is entirely digital and emphasizes ease of use, automation, and basic investor education. Since its launch, Groww has grown its user base significantly, with over 30 million registered users as of 2023. The company has experienced growth in trading activity, mutual fund SIPs, and overall assets under management. It is supported by global investors and has been valued as a fintech unicorn in India.
Issue Size
| Particulars | Details |
|---|---|
| Total shares offered | TBD |
| Fresh issue | TBD |
| Offer for sale | TBD |
Financials
| Financial Year | FY 2022 (INR Cr) | FY 2023 (INR Cr) | FY 2024 (INR Cr) |
|---|---|---|---|
| Total Assets | 6185 | 5994 | 9450 |
| Revenue | 863.53 | 953.94 | 1618 |
| Profit after Tax | 244.93 | 205.65 | 771.66 |
IPO Schedule
| Activity | Date |
|---|---|
| DRHP Filing | TBD |
| IPO Opens for Bidding | TBD |
| IPO Closes for Bidding | TBD |
| Basis of Allotment | TBD |
| Refund Initiation | TBD |
| Credit to Demat Accounts | TBD |
| Listing on Stock Exchange | TBD |
Future Plans
Groww is planning for the next phase of its business expansion, with efforts focused on product development, improving user experience, and increasing its presence in non-metropolitan areas. The company aims to reach a broader base of younger, digital-first investors across India. It is also taking steps to simplify user onboarding and enhance educational content for new users. In terms of funding, Groww is reported to be in discussions to raise approximately $250 million in a pre-IPO round, at a valuation between $6.5 and $6.8 billion. These activities indicate that the company is preparing operationally and financially for a potential public listing.