Groww, India’s largest trading app, is seeking a valuation of $7 billion in an IPO
Groww, India’s largest retail stockbroker, is preparing to file for an IPO within 10 to 12 months, seeking a valuation between $6 billion and $8 billion, sources familiar with the matter told TechCrunch.
The listing of the headquarters in Bengaluru will be the first IPO through a digital trading platform in India. Target evaluation is more than Double the $3 billion It was last evaluated in a funding round in October 2021.
Groww, which counts Peak The startup, which also enables customers to invest in mutual funds and conduct UPI transactions, She moved her homeland to India from the United States last year as part of preparations for its IPO.
Grow declined to comment.
The trading app has outperformed competitors in India’s crowded retail investment market. It had 13.2 million active users in December, compared with nearest competitor Zerodha’s 8.1 million users, according to National Stock Exchange data. Groww is adding between 325,000 and 550,000 new users each month — more than double the rate of its competitors, according to the exchange.
India has It has emerged as a bright spot for technology lists globallywith seven tech startups going public in 2024. Food delivery platform Swiggy’s $1.35 billion IPO was the world’s largest tech listing last year.
More than 20 Indian startups are planning an IPO in 2025, including business marketplace Zetwerk, managed workspace provider Table Space, Prosus-owned PayU, and pharma platform PharmEasy.
Abhinav Bharti, head of capital markets at JPMorgan in India, told TechCrunch in a recent interview that India’s growing domestic capital and policy continuity were among the factors that led to a rise in IPOs in the country.
The collective market value of listed companies in India doubled to $5.3 trillion in 2014 compared to 2019, while daily trading volume tripled to $15 billion.
“There is no other country in the world that provides you with this amount of political certainty and policy continuity,” Bharti told TechCrunch. “You can argue against a political decision, but you can’t argue against the fact that it was consistent.”
