Groww Completes Fisdom Acquisition Ahead of ₹7,000 Crore IPO; Launches ‘W’ for HNIs

New Delhi, October 6: IPO-bound growth platform Groww has sealed the deal to acquire wealth-tech firm Fisdom, after receiving regulatory clearance from SEBI last week. The deal, which was sealed on Monday, marks Groww’s strategic foray into the wealth space through a new product, ‘W’, designed for High Net Worth Individuals (HNIs) and wealthy investors.

Groww Expands Beyond Retail Investing

The move underscores Groww’s transition from a retail-focused platform to a full-stack financial ecosystem. Founded in 2016, the Bengaluru-based firm has diversified into asset management, corporate bonds, and margin trading facilities, and now ventures into advisory-led wealth management.

Fisdom’s co-founders, Subramanya SV and Anand Dalmia, along with their core team, will continue with Groww to head the new wealth vertical. The company also plans to scale up hiring to meet the needs of its rapidly growing base of affluent clients.

According to Groww’s Draft Red Herring Prospectus (DRHP), the platform currently serves over 2.7 lakh affluent users with portfolios above ₹25 lakh — a segment that has expanded nine-fold between FY23 and Q1 FY26.

Groww Wealth Market Expansion

Groww’s entry into the wealth segment comes amid a boom in India’s wealth management industry. Rising disposable incomes, growing financial literacy, and demand for structured investment products are driving more households toward advisory-led, diversified portfolios once exclusive to high-net-worth clients.

Groww Details of the Fisdom Acquisition

Founded in 2015, Fisdom has established a strong presence in investment advisory services, Portfolio Management Services (PMS), Alternative Investment Funds (AIFs), and private investment products. The company manages over ₹10,000 crore in Assets Under Management (AUM) and serves one million clients through 15 offices and 150 wealth partners, with plans to expand that number to 250.

Fisdom also partners with more than 15 leading banks, offering access to over 400 million potential customers through its embedded wealth solutions.

Groww IPO Details

Last month, Groww’s parent company, Billionbrains Garage Ventures Pvt. Ltd., filed updated draft papers with SEBI for its upcoming ₹7,000 crore IPO. The offering includes a fresh issue worth ₹1,060 crore and an Offer For Sale (OFS) of 57.41 crore equity shares by promoters and existing investors.

Disclaimer: At HDFC SKY, we take utmost care and due diligence in curating and presenting news and market-related content. However, inadvertent errors or omissions may occasionally occur.

If you have any concerns, questions, or wish to point out any discrepancies in our content, please feel free to write to us at content@hdfcsec.com.

Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations