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Groww IPO News: Online investment platform Groww has filed an updated draft red herring prospectus (DRHP) with market regulator SEBI for an initial public offering (IPO) of about Rs 7,000 crore. The issue will comprise a Rs 1,060-crore fresh share sale and an offer-for-sale (OFS) worth Rs 5,000–6,000 crore by existing investors.

The Bengaluru-based company, founded in 2017 by former Flipkart executives Lalit Keshre, Harsh Jain, Neeraj Singh and Ishan Bansal, is eyeing a valuation of around $9 billion.

Groww’s promoters collectively hold about 28 per cent stake in the company. They plan to sell only 0.07 per cent of their shares in the IPO, with a 20 per cent lock-in for 18 months after listing.

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According to the DRHP, proceeds from the fresh issue will be used to expand margin trading, unsecured lending, wealth management services and pursue potential inorganic growth opportunities.

Financially, the company reported a more than threefold jump in profit to Rs 1,819 crore in FY25, while revenue climbed 31 per cent year-on-year to Rs 4,056 crore from FY24 levels.

JPMorgan Chase & Co. and Kotak Mahindra Bank Ltd. are acting as lead managers to the issue.

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