Groww gets Sebi nod for IPO of up to $1bn

The fintech startup had filed confidential draft papers with Sebi in May

- Sakshi Sadashiv

Stock broking app Groww has received the market regulator's approval to raise $800 million to $1 billion in an initial public offering (IPO) of shares, two people said.

The Bengaluru-based investment platform had filed a confidential draft red herring prospectus with the Securities and Exchange Board of India (Sebi) on 26 May for its IPO.

Groww did not immediately comment on Sebi's approval for its IPO. Its parent company Billionbrains Garage Ventures Pvt. Ltd has appointed JPMorgan Chase & Co. and Kotak Mahindra Bank Ltd as the bankers for the share sale.

The fintech startup's IPO plans come amid a broader slowdown for India's leading discount brokerages—Groww, Zerodha, Angel One and Upstox—which together lost nearly 2 million active investors in the first half of 2025, according to National Stock Exchange (NSE) data.