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Fintech unicorn Groww eyes $6-8 Bn IPO: Report

EntrackrEntrackr ยท 1y ago
Fintech unicorn Groww eyes $6-8 Bn IPO: Report
Medial

News All Stories Fintech unicorn Groww eyes $6-8 Bn IPO: Report Groww is the leading stockbroking company in India, with more than 13 million monthly active users, according to the latest data from the National Stock Exchange (NSE). Harsh Upadhyay 13 Jan 2025 13:26 IST Follow Us Stockbroking company Groww is gearing up for its initial public offering (IPO), according to a media report. While a few fintech startups have already gone public, the Lalit Keshre-led company will be the first contemporary startup from the stockbroking industry to take this step. TechCrunch, which first reported the development, added that Groww has begun talks with investment bankers and will soon choose advisers for the IPO. The firm is targeting a listing in 10-12 months, with a valuation goal between $6 billion to $8 billion. Groww has raised nearly $400 million to date from notable investors such as Peak XV, Tiger Global, Ribbit Capital, and YC Continuity, and was valued at around $3 billion following a $251 million Series E round in October 2021. It hasnโ€™t raised a new round since then. Itโ€™s worth noting that Groww completed its domicile transition back to India from the US in May last year. Entrackr exclusively reported on Growwโ€™s relocation plan in September 2023. Growwโ€™s revenue from operations surged to Rs 3,145 crore in FY24. The company recorded a net loss of Rs 805 crore in FY24, primarily due to a one-time tax payment of Rs 1,340 crore for relocating its domicile to India. Entrackr has reached out to Groww for comments. Groww is the leading stockbroking company in India, with more than 13 million monthly active users. According to the latest data from the National Stock Exchange (NSE), it holds a 26.59% market share in this space as of December. Its arch-rivals, Zerodha and AngelOne, held market shares of 16.41% and 15.67%, respectively. Paytm was the first fintech from the Indian startup ecosystem to be listed on the stock exchange in 2021, followed by Mobikwik, which debuted on the bourses in December last year.

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OYO's parent PRISM files confidential papers with SEBI, eyes $7โ€“8 Bn valuation

EntrackrEntrackr ยท 16d ago
OYO's parent PRISM files confidential papers with SEBI, eyes $7โ€“8 Bn valuation
Medial

OYO's parent PRISM files confidential papers with SEBI, eyes $7โ€“8 Bn valuation PRISM, the parent of OYO, has filed confidential draft IPO papers with the Securities and Exchange Board of India (SEBI), according to sources aware of the development. The filing follows shareholdersโ€™ approval at an Extraordinary General Meeting (EGM) held on December 20, where the company received consent to raise up to Rs 6,650 crore through a fresh issue of equity shares. The proposed public offering is expected to value the company in the range of $7โ€“8 billion, people familiar with the matter said. The company had initially appointed ICICI Securities, Axis Capital, Goldman Sachs, and Citibank as book running lead managers for the proposed IPO and has since added more banks to the syndicate. PRISM first initiated the IPO process in 2021 and filed offer documents with SEBI, followed by a revised filing with updated financial and operational disclosures. The company later withdrew its IPO plans amid elevated global market volatility. Since then, the company has expanded its operations across India and international markets and added to its premium portfolio through brands such as SUNDAY Hotels and Palette. It has also strengthened its overseas presence through the acquisition of US-based G6 Hospitality, the economy lodging franchisor that operates Motel 6 and Studio 6. For the quarter ended June 2025 (Q1 FY26), the company reported a net profit of over Rs 200 crore and revenue of Rs 2,019 crore. The confidential filing route has gained traction among new-age companies. Firms that have used or explored this mechanism include PhonePe, Meesho, Swiggy, Groww, PhysicsWallah, Shadowfax, Shiprocket, boAt, Aequs, Infra.Market, InCred Holdings, Zepto, and Tata Play.

Razorpay begins IPO preparations, eyes Rs 4,500 Cr fresh issue: Report

EntrackrEntrackr ยท 8d ago
Razorpay begins IPO preparations, eyes Rs 4,500 Cr fresh issue: Report
Medial

Razorpay begins IPO preparations, eyes Rs 4,500 Cr fresh issue: Report Digital payments unicorn Razorpay has reportedly begun preparations for an initial public offering (IPO) and is looking to raise up to Rs 4,500 crore ($505 million) in fresh capital. According to an Economic Times report, the Bengaluru-based company has invited merchant bankers to pitch for the IPO mandate, with Kotak Mahindra Capital and Axis Capital emerging as key contenders. The IPO is likely to be launched towards the end of the year, though the timeline and issue size are not yet final. The report further added that Razorpay is also in discussions for a pre-IPO funding round, which is likely to be largely secondary in nature. Razorpay was last valued at $7.5 billion in 2021, when it raised $375 million during the peak of the funding cycle. Entrackr has reached out to Razorpay for comments. Razorpay converted itself into a public limited company in April last year, a development earlier reported exclusively by Entrackr. In the same year, the fintech unicorn also completed its reverse flip to India and paid around $150 million in taxes related to the move. In another recent development, the firm acquired a majority stake in POP UPI for $30 million and also secured a cross-border payment aggregator licence from the Reserve Bank of India. Founded by Harshil Mathur and Shashank Kumar, Razorpay has raised over $741 million in funding and counts GIC, Peak XV Partners, Z47 (formerly Matrix Partners India), and Tiger Global among its key investors. On the financial front, Razorpay reported a 65% year-on-year jump in consolidated revenue to Rs 3,783 crore in FY25, led by strong execution across its payment gateway, banking, POS, and international businesses, the company said in a statement. The companyโ€™s gross profit rose 41% to Rs 1,277 crore, although it reported a net loss due to ESOP-related expenses of Rs 1,209 crore and one-time costs linked to its redomiciling.

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