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Indian online brokerage platform Groww\u2019s IPO on Wednesday proved to be the largest listing by an Indian fintech so far this year, as the company raised \u20b966.3 billion (about $748 million) with its shares closing 29% higher from their issue price.<\/p>\n
The company\u2019s shares opened at \u20b9112, about 12% above their issue price of \u20b9100, and closed at \u20b9128.85, lending it a market cap of \u20b9795 billion (approximately $9 billion). <\/p>\n
Groww\u2019s listing comes amid a broader pickup in Indian startup IPOs. Eyewear retailer Lenskart made its market debut<\/a> earlier this week, and payments platform Pine Labs is scheduled to list on Friday (its $440 million IPO was fully subscribed<\/a> as of Tuesday). Other venture-backed firms, including PhysicsWallah and Capillary Technologies, are set to go public in the coming days.<\/p>\n Founded in 2016 by former Flipkart employees, Groww has benefited from India\u2019s retail investing boom, and its investors include Microsoft CEO Satya Nadella, Peak XV, Y Combinator, Ribbit Capital and Tiger Global. Its app targets first-time investors to the retail investing market, and competes with the likes of Zerodha and Angel One.<\/p>\n Groww had more than 14 million active users as of June, and over 12.6 million active NSE clients, per its IPO offer document<\/a> (PDF). While stockbroking remains its core business, the company has expanded into lending, too, launching a separate app for that business last year. The company also offers payments, asset management and insurance brokerage. However, these businesses remain modest in scale compared with its brokerage revenues.<\/p>\n In the financial year ended March 2025, the company reported revenue of \u20b939 billion ($440 million) and net profit of \u20b918 billion ($206 million). <\/p>\n Peak XV Partners, Ribbit Capital, Tiger Global and Sequoia Capital were among investors who sold their stakes<\/a> in the offering. The IPO was subscribed nearly 18 times, led by strong demand from institutional investors, and the company raised about \u20b930 billion from anchor investors in a pre-IPO placement last week.<\/p>\n Techcrunch event<\/p>\n \n\t\t\t\t\t\t\t\t\tSan Francisco<\/span> \u201cWe owe so much to so many people for building this,\u201d Groww co-founder and CEO Lalit Keshre said during the company\u2019s listing ceremony. \u201cWhen we started, we thought that in one month, if we could get 100 customers, it would be very good. But guess what? We got 600 customers,\u201d he added, reflecting on the startup\u2019s early days.<\/p>\n Venture investors cheered Groww\u2019s successful market debut. \u201cMany U.S. LPs have asked me if Indian investments would ever make money,\u201d Anu Hariharan, co-founder of Avra Capital, an early investor in Groww, wrote<\/a> in a post on X. \u201cEcosystems take time \u2014 but here\u2019s Groww, returning capital many times over and returning at least two U.S. funds fully and likely delivering one of the best IRRs of the decade (Launching Stocks in 2020 \u2192 IPO in 2025).\u201d<\/p>\n The debut also marks a milestone for Y Combinator: Groww is the first Indian company backed by the accelerator to go public<\/a>. The fintech is also the first Indian startup to list after relocating its corporate headquarters from Delaware<\/a>, underscoring a broader shift among Indian unicorns moving their base back home.<\/p>\n Groww said it plans to use the fresh capital to expand its cloud and technology infrastructure, intensify marketing efforts, and invest further in its lending and margin trading businesses. It said it has also earmarked funds for potential acquisitions.<\/p>\n<\/div>\n
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\n\t\t\t\t\t\t\t\t\t\t\t\t\tOctober 13-15, 2026<\/span>\n\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n