Grow is planning to launch IPO: Stock broking company wants to raise ₹ 6,060 crore from the issue, discussions are going on with investment bankers.

Stock broking company Grow is planning to launch its Initial Public Offering i.e. IPO. According to media reports, the company has discussed with many investment bankers regarding the IPO.

The company wants to raise about $700 million i.e. Rs 6,060 crore from the IPO at a valuation of $7-8 billion (Rs 69,258 crore). According to sources, Grow has approached investment bankers to start the process of its IPO.

The IPO timeline has not been decided yet

However, the IPO timeline has not been decided yet. This will depend on market conditions. This IPO is coming within about a year of the company completing the registration of its holding company in India from the US.

Grow has now joined those big fintech companies, which are bringing their business back to the country due to better economic policies and the growing Indian market.

The Bengaluru-based company’s listing plan comes at a time when the country’s stock brokers are grappling with market regulator SEBI’s recent move to curb futures and options trading.

F&O trading sees 30% decline in December

This step of SEBI has been taken to stop betting by small retail traders. The move follows a 30% decline in F&O trading in December following deregulation. This segment contributes about 50% to the total revenue of the country’s top stock broking firms.

Grow left Zerodha behind last year

Groww, one of the leading full-stack financial services firms in India, had overtaken Zerodha in terms of numbers of active investors last year. By November 2024, Grow has added more than 5 million users, which is more than double the number of people who signed up last year.

Compared to last year, it has gained an edge over its nearest competitors Zerodha and Angel One. In fact, Grow’s lead over Zerodha is now around Rs 50 lakh.

Groww has 13 million active investors in December 2024

According to market exchange data as of December 2024, Groww has about 1.3 crore active investors, while Zerodha has about 81 lakh and Angel One has about 78 lakh active investors.

Grow’s profit increased by 17% to Rs 535 crore.

Groww’s consolidated operating profit rose 17% to Rs 535 crore for the year ending March 2024, from Rs 458 crore a year ago. Its consolidated revenue for FY23 was Rs 1435 crore.

Groww suffered a net loss of Rs 805 crore at consolidated levels due to a one-time tax of Rs 1,340 crore on domicile transfer. During the last financial year, Growo had shifted its registered office from Delaware, USA to Bengaluru.