Groww Files IPO Papers Via Confidential Filing Route; Seeks To Raise Up To USD 1 Billion
Mumbai, May 26 — Online investment platform Groww has officially filed its draft papers for an initial public offering (IPO) through the confidential filing route, aiming to raise as much as USD 1 billion.
Sources close to the matter revealed that the Bengaluru-based fintech unicorn is looking to tap into strong investor appetite for India’s booming digital finance sector. The IPO, once cleared by regulators, could potentially value Groww at over USD 6-7 billion, according to early market estimates.
Founded in 2016, Groww has rapidly scaled its business, trading in stock market platform for traders and investors it also offering direct mutual funds, stocks, ETFs, fixed deposits, and recently, sovereign gold bonds on its platform. With over 30 million registered users, it has emerged as one of the country’s most popular investment apps, particularly among millennials and first-time investors.
The confidential filing route—which allows companies to submit IPO documents privately before making them public closer to the listing—has become an increasingly popular option among Indian startups seeking flexibility and reduced scrutiny during the pre-listing phase.
If successful, Groww’s IPO will be one of the largest tech listings out of India this year, following the footsteps of companies like Zomato, Paytm, and PolicyBazaar, which have tested public markets with mixed results.
Industry analysts say the offering will be closely watched, as it signals investor confidence in India’s wealth-tech space, especially amid global market uncertainties and tighter funding conditions for startups.