Groww Files Updated DRHP, To Raise INR 1,060 Cr Via Fresh Issue

IPO-Bound Groww Completes Acquisition Of Fisdom After SEBI Nod

SUMMARY

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

Sources told Inc42 that the OFS component would be in the range of INR 5,000 Cr to INR 6,000 Cr ($568 Mn to $681 Mn)

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

Investment tech unicorn Groww has filed its updated draft red herring prospectus (UDRHP) with SEBI for its 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 like Peak XV, Tiger Global, Ribbit, among others, will be offloading stake in the IPO. Sources told Inc42 that the OFS component would be in the range of INR 5,000 Cr to INR 6,000 Cr ($568 Mn to $681 Mn).

While Peak XV plans on dumping 15.8 Cr shares of the company in the public offer, Ribbit Capital plans on selling 11.8 Cr shares through its two funds. Besides, Y-Combinator will be offloading about 10.5 Cr shares and Tiger Global plans on selling 6.5 Cr Groww shares.

From the fresh issue proceeds, Groww plans to deploy the largest share, INR 225 Cr to be precise, to fuel its brand building and performance marketing activities. It will also invest INR 205 Cr in its NBFC arm, Groww Creditserv Technology Pvt Ltd, and INR 167.5 Cr in its mutual fund subsidiary, Groww Invest Tech Pvt Ltd. Additionally, INR 152.5 Cr has been earmarked for strengthening its cloud infrastructure.

Earlier, Inc42 reported that the company is eyeing a valuation of $7 Bn to $8 Bn for the public issue. This is in line with its last private valuation. In June, Groww raised $200 Mn in its Series F round at a valuation of $7 Bn.

Groww cofounders and promoters – Lalit Keshre, Harsh Jain, Neeraj Singh and Ishan Bansal – cumulatively own 27.97% stake in the company. They will be offloading 10 Lakh shares each in the IPO.

The company pre-filed its IPO papers in May this year. The markets regulator cleared its confidential filing on August 28.

On the financial front, Groww turned profitable in FY25, reporting a net profit of INR 1,824.4 Cr in the fiscal year as against a loss of INR 805.5 Cr in the previous fiscal. Operating revenue jumped 5o% to INR 3,901.7 Cr from INR 2,609.3 Cr in FY24.

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.

In terms of operational metrics, Groww held a 26.27% market share with 1.3 Cr clients in June 2025, as per NSE data. It commanded a 45.45% share in net addition in active clients for the 12-month period ended June 2025 and a 25.8% share in new demat account additions.