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Groww , India ’s largest retail stockbroker , is ready to file for an initial offering in 10 to 12 months , seeking a evaluation between $ 6 billion and $ 8 billion , source conversant with the affair told TechCrunch .
The Bengaluru - headquartered ’s listing would be the first IPO by a digital trading chopine in India . The target evaluation is more thandouble the $ 3 billionit was last valued at its funding round in October 2021 .
Groww , which weigh Peak XV , Tiger Global , and Alkeon among its backer , has begun talk of the town with investment funds bank and will soon choose consultant for the initial offering , the sources said . The startup , which also enables customers to invest in mutual investment firm and make UPI dealings , shifted its home to Indiafrom the U.S. last year as part of IPO preparations .
Groww declined to comment .
The trading app has take out before of contender in India ’s crowded retail investing market . It had 13.2 million active user in December , compared with closest rival Zerodha ’s 8.1 million user , according to National Stock Exchange datum . Groww is adding between 325,000 to 550,000 Modern exploiter every month — more than twice the rate of its competitors , per the exchange .
India hasemerged as a bright spot for technical school listings globally , with seven engineering startups perish public in 2024 . Food delivery platform Swiggy ’s $ 1.35 billion IPO was the largest tech listing in the world last class .
More than 20 Native American startups are planning IPOs in 2025 , include business - to - business marketplace Zetwerk , managed workspace supplier Table Space , Prosus - possess PayU , and pharmaceutical platform PharmEasy .
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Abhinav Bharti , JPMorgan ’s head of fairness working capital markets for India , told TechCrunch in a recent consultation that India ’s growing domestic majuscule and policy continuity were among the factors for the IPO surge in the country .
The collective market capitalization of companies listed in India double to $ 5.3 trillion in 2014 liken to 2019 , while daily trading volume triple to $ 15 billion .
“ No other country globally provide you with this much political sure thing and persistence of insurance policy , ” Bharti tell TechCrunch . “ you’re able to argue against a insurance conclusion , but you’re able to not argue against the fact that they have been consistent . ”
