Groww files revised DRHP with strong financials ahead of Rs 7,000 Cr IPO

Digital investment platform Groww has filed a revised draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) as it gears up for a Rs 7,000 crore initial public offering (IPO). The public issue will include a fresh issue of Rs 1,020 crore alongside a large offer for sale (OFS) by existing investors and co-founders.

As per the estimates, the OFS will see secondary share sales worth about Rs 5,000 crore. Peak XV will divest 15.8 crore shares, while YC Holding and Ribbit Capital will offload 10.5 crore and 11.8 crore shares, respectively. Tiger Global, Kauffman Fund, and co-founders Lalit Keshre, Harsh Jain, and Neeraj Singh will also participate in the sell-down.

This development comes weeks after the Bengaluru-based firm secured SEBI’s nod for its confidential filing. The IPO will be managed by Kotak, JP Morgan, Citi, Axis Capital, and Motilal Oswal, with MUFG Intime as registrar.

Groww plans to deploy the fresh issue proceeds towards strengthening its cloud infrastructure, brand building, investments in subsidiaries, acquisitions, and general corporate purposes.

According to the draft red herring prospectus, Peak XV remains Groww’s largest external stakeholder with a 21.73% stake, followed by YC Holding (12.05%). Ribbit Capital and Tiger Global also hold meaningful ownership, while co-founders Keshre, Jain, and Singh own 9.13%, 6.72%, and 6.26%, respectively.

On the financial front, Groww posted a 50% year-on-year jump in revenue to Rs 3,902 crore in FY25, up from Rs 2,609 crore in FY24. The company also turned profitable, reporting Rs 1,824 crore versus a loss of Rs 805 crore in FY24. In Q1 FY26, Groww clocked Rs 904 crore in revenue with a profit of Rs 378 crore. The platform reported 18.07 million transacting users, including 14.38 million active clients, during the quarter.

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