Groww's $1 Billion IPO: Early Backers Like Tiger Global, Peak XV Likely To Pare Stake — Profit Exclusive

Groww plans to raise about $1 billion through an initial public offering that will include a mix of fresh issue and offer for sale, according to people familiar with the matter. The Bengaluru-based investment platform has not finalised the proportion between the two components, as several investors are involved in the transaction, one person said on the condition of anonymity. Early investors like Tiger Global and Peak XV Partners are expected to sell part of their holdings through the offer for sale, another person added. The company's early backers also include Ribbit Capital, YC Continuity and Propel Venture Partners. However, as of now, its four founders — chief executive Lalit Keshre, chief operating officer Harsh Jain, chief technical officer Neeraj Singh and chief financial officer Ishan Bansal — are not likely to sell any stake in the IPO, a third person said.

Read more