Groww Files IPO Papers, Eyes $1 Billion

TIGER GLOBAL-BACKED discount broking platform Groww has confidentially filed for an initial public offering (IPO) with the Securities and Exchange Board of India (Sebi). It would become the first major fintech broker to go public.

- FE BUREAU

Sources said the company is expected to raise around $700 million and $1 billion through a combination of fresh issue and offer for sale.

Founded in 2016, Groww surpassed Zerodha in October 2023 to become the country's largest brokerage by the number of active clients. As of March, it holds a 26% market share.