Groww Doled Out INR 614 Cr In Bonus To Cofounders In FY25

SUMMARY

CEO Lalit Keshre led with a total salary of INR 188.64 Cr, while COO Harsh Jain and CFO Ishan Bansal received a total payout of INR 149.58 Cr and INR 136.96 Cr, respectively

The four founders also cashed in INR 104 Cr from selling their stakes ahead of the company filing its draft IPO papers

Just days ago, Groww filed its updated DRHP with SEBI for its IPO, which will comprise a fresh issue of shares worth up to INR 1,060 Cr and an OFS component of up to 57.4 Cr shares

Ahead of its public listing, IPO-bound investment tech giant Groww dished out INR 624.6 Cr in total remuneration to the four cofounders of the company in the fiscal year 2024-25 (FY25).

This payout also included a mega INR 614.6 Cr in one-time performance incentives for the four cofounders, which was half of the company’s total profit of INR 1,824 Cr in the fiscal under review.

As per its updated draft red herring prospectus (DRHP), CEO Lalit Keshre led with a total salary of INR 188.64 Cr, including INR 185.66 Cr in incentives. While COO Harsh Jain received INR 149.58 Cr, including INR 146.65 Cr in incentives, in FY25, CFO Ishan Bansal earned INR 136.96 Cr, of which INR 133.97 Cr was a one-time incentive.

Meanwhile, cofounder and CTO Neeraj Singh drew INR 151.32 Cr in total payout, including INR 148.3 Cr linked to incentives.

Ahead of Groww filing its DRHP, Keshre, Jain and Bansal also netted INR 27.08 Cr each via secondary share sales. In July this year, the trio offloaded 28.05 Lakh shares each, at INR 96.56 Cr apiece, to ISP VII-B Blocker GW, an affiliate of ICONIQ Capital.

In July itself, COO Jain also dumped 23.6 Lakh shares of the company at INR 96.56 each to ICONIQ Capital for a cumulative sum of INR 22.8 Cr.

Together, the four founders cashed in INR 104 Cr from selling their stakes ahead of the company filing its draft IPO papers.

This comes a couple of days after Groww filed its updated DRHP with SEBI for its up to INR 7,000 Cr IPO. The public issue will comprise a fresh issue of shares worth up to INR 1,060 Cr ($120.5 Mn) and an offer-for-sale (OFS) component of up to 57.4 Cr shares.

Investors such as Peak XV, Tiger Global and Ribbit will offload their stake in the upcoming IPO.

The company plans to utilise the fresh proceeds for branding, bolstering its NBFC arm and strengthening its cloud infrastructure.

This follows the investment tech major filing its DRHP via the confidential pre-filing route in May this year. Groww received market regulator SEBI’s approval for its listing in late August.

On the financial front, Groww turned profitable in FY25 and reported a net profit of INR 1,824.4 Cr compared to a loss of INR 805.5 Cr in the previous fiscal year. Operating revenue jumped 50% to INR 3,901.7 Cr in the fiscal under review from INR 2,609.3 Cr in FY24.

Meanwhile, in Q1 FY26, the company’s net profit rose 11% YoY to INR 378.4 Cr while operating revenue declined 10% YoY to INR 904.4 Cr.