Groww IPO Approved by SEBI: Fintech’s $800M-$1B Initial Public Offering Soon

Groww, an online investment platform, has received approval from SEBI to start its IPO, which may raise between $800 million and $1 billion.

Its parent company recently raised about Rs 1,735 crore (~$200 million) from investors including Singapore’s GIC.

Groww will list in India after restructuring its US holding company, which cost $160 million in taxes.

So far, Groww has raised $600 million from investors and was valued at $3 billion in 2021.

In the last financial year, Groww’s revenue grew 31% to Rs 4,056 crore, and its profit tripled to Rs 1,819 crore. However, they had a loss the year before due to a large tax payment. The newest financial report is not yet available.