Groww Parent Billionbrains Garage Ventures Gets SEBI Nod for USD 1 Billion IPO

New Delhi, Friday, August 29, 2025 -Billionbrains Garage Ventures, the parent entity of stock broking leader Groww, has obtained SEBI approval to proceed with its initial public offering (IPO). The issue is set to raise between USD 700 million and USD 1 billion, valuing the fintech at around a whopping USD 7 billion.

IPO Structure and Purpose

The offering will include a fresh issue of shares along with an offer for sale (OFS).

The proceeds of the fresh issue will be utilised towards building technology as well as business expansion, while the OFS part will serve as an exit opportunity for existing shareholders. The company had filed its draft red herring prospectus (DRHP) in May along the confidential pre-filing route, a process that allows companies to delay public filing of IPO data until advanced stages.

Lead Managers

The offer will be handled by a consortium of leading investment banks, with JP Morgan India, Kotak Mahindra Capital, Citigroup Global Markets, Axis Capital, and Motilal Oswal Securities serving as the lead managers.

Strong Investor Support

Billionbrains Garage Ventures is backed by marquee investors like Peak XV Partners, Tiger Capital, and Microsoft CEO Satya Nadella. Singapore sovereign fund GIC had filed for approval earlier this year to buy a 2.14% stake, while Groww also raised USD 200 million in new funding at a USD 7 billion valuation with the backing of GIC and Iconiq Capital. With SEBI go-ahead, Groww is the second new-age tech firm this year, after PhysicsWallah, to proceed with IPO plans under the confidential pre-filing mode.

Market Leadership and Financials

Groww has evolved from its 2016 launch to India’s one of the largest stock brokers with over 12.3 million active users and holding over 26% market share as of August 2025. According to Registrar of Companies (RoC) filings, the firm recorded ₹4,056 crore revenue and ₹1,818 crore profit after tax in FY25, reflecting robust profitability before listing in the market.

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