In order to list on Indian Stock Exchanges, Groww decided to shift its base from the US to India. Tiger Global, Peak XV Partners, and Ribbit Capital are the investors of the company.
Recently, this month, Singapore’s government-owned fund GIC asked for permission to purchase 2.14% of the company. This is part of the funding before the launch of its IPO. If GIC received the permission, it could increase the company’s valuation to $6.5 billion, almost double its value of $3 billion in 2021.
In the previous year, Groww surpassed Zerodha to become one of the largest stockbroker platforms in terms of clients. With having clients at 13 million, clients have almost increased by 36%, growing its market share to 26.3%. Even though in FY25, the market share of Zerodha decreased by 1.84% to 16%, it’s still one of the profitable stockbrokers in India.
As per the Business Standard article, in FY24, the company reported a revenue of ₹3,145 crore from operations with a loss after tax of ₹805 crore. The reason behind the loss of tax is mainly due to a one-time tax cost with a reason of relocation.
Just like many mega companies like Physics Wallah, Tata Capital, and Imagine Marketing, Groww also chose to take the confidential filing route for its IPO.
