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Groww<\/a>, India\u2019s largest retail brokerage firm, is set to test the country\u2019s public markets with a multi-billion-dollar IPO. The listing comes comes just over a year after the company restructured its corporate headquarters<\/a> from Delaware back to India \u2014 a move that could make it the first Indian startup to list at home following a relocation from the U.S.<\/p>\n Backed by Microsoft CEO Satya Nadella and marquee investors including Peak XV Partners, Y Combinator, Ribbit Capital, and Tiger Global, Groww\u2019s listing \u2014 expected later this year \u2014 is set to double as a major exit opportunity for global venture funds. The four investment firms are offloading about 394 million shares \u2014 roughly 9.4% of Groww\u2019s total equity base \u2014 per the draft IPO documents filed<\/a> on Tuesday. That makes them the single largest selling bloc, accounting for about 69% of all shares being offered to the public.<\/p>\n Pine Labs<\/a>, Razorpay<\/a>, Meesho<\/a>, and Zepto<\/a> are among the Indian startups that have recently shifted their base back home. Walmart-backed PhonePe relocated its headquarters <\/a> from Singapore to India in 2022, while Flipkart<\/a> \u2014 once its parent and also backed by Walmart \u2014 similarly announced plans to move its headquarters from Singapore to India earlier this year. <\/p>\n Last year, Groww became one of the first startups to shift its headquarters back to India from the U.S. The startup paid around $159 million in taxes<\/a> as part of the move.<\/p>\n Relocating their base back home helps startups align with evolving local regulations and meet requirements for domestic stock listings. It also makes sense to tap India\u2019s public markets, given the expanding retail investor base and rising appetite for IPOs. The trend reflects the growing maturity and attractiveness of India\u2019s capital markets compared to overseas alternatives.<\/p>\n While U.S. investors plan to offload a large chunk of their holdings in Groww, founders Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal together are selling only about 4 million shares \u2014 only 0.7% of the total offer for sale, per the draft prospectus.<\/p>\n The small sale signals that Groww\u2019s founders are holding on to nearly all their equity, in contrast to the established investors who are using the IPO as an exit route.<\/p>\n Techcrunch event<\/p>\n \n\t\t\t\t\t\t\t\t\tSan Francisco<\/span> Groww plans to raise \u20b910.6 billion (approximately $121 million) in new funding from the IPO, along with the secondary sale of 574 million shares by existing shareholders, expected to be priced at \u20b95\u20136 billion (roughly $568\u2013$682 million). The IPO is expected<\/a> to value the Bengaluru-based company at $9 billion.<\/p>\n In the fiscal year ending March 31, Groww reported total income of \u20b940.6 billion (about $462 million), up 45% year-on-year, with profit after tax of \u20b918.2 billion (roughly $208 million). The startup had posted a net loss of about \u20b98 billion (around $92 million) in the previous year, primarily due to expenses tied to its Delaware headquarters relocation. <\/p>\n As of June, Groww had about 37.4 million individual demat accounts (digital accounts that hold securities electronically), representing nearly 19% of India\u2019s market, along with 12.6 million active clients on the National Stock Exchange, equal to a 26% share. The platform also counted around 17 million active systematic investment plans (SIPs, which are recurring monthly investments) and 9 million unique mutual fund investors, becoming the only investment app in the country to surpass 100 million cumulative downloads.<\/p>\n The offering is being advised by JPMorgan Chase, Kotak Mahindra Bank, Citigroup, Axis Bank and Motilal Oswal Investment Advisors.<\/p>\n<\/div>\n
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\n\t\t\t\t\t\t\t\t\t\t\t\t\tOctober 27-29, 2025<\/span>\n\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n