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Groww files draft for Nifty India Defence ETF to SEBI

YourStory

YourStory · 1y ago

Groww files draft for Nifty India Defence ETF to SEBI

Groww Asset Management Limited has submitted draft documents for the Groww Nifty India Defence ETF to SEBI. The ETF aims to replicate the Nifty India Defence Index and generate long-term capital growth. It will invest in securities of the index, with managed returns by Abhishek Jain. The fund will adhere to regulatory limits, excluding overseas securities, ReITS, and InVITS. HDFC Defence Fund, investing in defence and allied sector companies, has generated returns of 123.33% since its inception.

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Groww files draft papers for IPO, eyes $700 million to $1 billion listing

Economic Times

Economic Times · 4m ago

Groww files draft papers for IPO, eyes $700 million to $1 billion listing

Online investment platform Groww has confidentially filed a draft red herring prospectus with the Securities and Exchange Board of India for an estimated $700 million to $1 billion initial public offering. Ahead of the listing, Singapore’s GIC plans to acquire a 2.14% stake in Groww as part of a $250 million to $300 million pre-IPO round, potentially valuing Groww at around $7 billion. Groww reported an operating revenue of Rs 3,145 crore for FY24.

Groww files confidential DRHP with SEBI

Entrackr

Entrackr · 4m ago

Groww files confidential DRHP with SEBI

Stock broking platform Groww has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) through the confidential route, according to public notices published in newspapers on May 25. The pre-filing mechanism, introduced by SEBI in 2022, allows companies to privately submit their DRHPs. The document remains confidential until the firm decides to go public, giving companies greater flexibility in IPO planning. Groww is currently the largest stockbroking platform in India, with over 13 million active users monthly, according to NSE data. It commanded a 26.57% market share in February 2024, ahead of rivals Zerodha (16.25%) and Angel One (15.62%). Backed by Peak XV Partners, Tiger Global, Ribbit Capital, and Y Combinator’s Continuity Fund, Groww has raised around $400 million to date. Its last round was a $251 million Series E in October 2021, which pegged its valuation at $3 billion. The company is now looking to raise $200 million in a pre-IPO round, targeting a valuation in the $6.5–7 billion range. As part of this, Viggo Investments Pte Ltd has sought clearance from the Competition Commission of India (CCI) to acquire a 2.143% stake in Groww. On the financial front, Groww’s revenue from operations surged to Rs 3,145 crore in FY24, though the firm reported a net loss of Rs 805 crore, driven by a one-time tax expense of Rs 1,340 crore related to its redomicile to India. Several Indian startups have recently opted for the confidential filing route introduced by SEBI in 2022 to prepare for their public listings. This includes car marketplace CarTrade, logistics company Delhivery, Shiprocket, and consumer electronics brand boAt. Groww Disclaimer: Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investors here.

Zerodha Gears Up For Launch Of AMC, Files Draft Documents For Index Funds

Inc42 · 2y ago

Zerodha Gears Up For Launch Of AMC, Files Draft Documents For Index Funds

Zerodha Fund House has filed draft scheme information documents with SEBI for two index funds: Zerodha Tax Saver (ELSS) Nifty LargeMidcap 250 index fund and Zerodha Nifty LargeMidcap 250 index fund. The ELSS fund will have a lock-in period of three years, while the other fund won't have any lock-in period. The minimum application amounts for these funds are set at INR 500 and INR 100, respectively. Zerodha cofounder Nithin Kamath had previously announced the company's intention to launch index funds and ETFs.

Zerodha rival Groww to file updated DRHP with SEBI for IPO, targets November listing: Report

IndianStartupNews

IndianStartupNews · 16d ago

Zerodha rival Groww to file updated DRHP with SEBI for IPO, targets November listing: Report

Groww, a leading Indian investment platform, plans to file an updated draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to target a November IPO. The offering, expected to raise $700 million to $1 billion, aims for a valuation between $7 billion and $9 billion. The IPO will include a fresh issue and an offer for sale, providing early investors a partial exit. Groww has raised $596 million in equity funding to date.

IPO-Bound Groww Becomes 1st Indian Investment App to Hit 100 Mn Downloads

OutlookIndia

OutlookIndia · 3m ago

IPO-Bound Groww Becomes 1st Indian Investment App to Hit 100 Mn Downloads

Groww, an IPO-bound investment app, became the first Indian platform to reach over 100 million downloads. According to Sensor Tower data, it leads globally in app installations and active user participation in 2024. Founded in 2016, Groww offers a variety of investment options and rivals Zerodha and Angel One, the latter having fewer downloads. Groww recently filed draft papers with Sebi for an IPO and reported significant profit growth and revenue increases.

PhysicsWallah files draft IPO papers with SEBI via confidential route

YourStory

YourStory · 6m ago

PhysicsWallah files draft IPO papers with SEBI via confidential route

PhysicsWallah (PW), an Indian edtech unicorn, has filed draft IPO papers with SEBI through a confidential pre-filing route. This method allows the company to withhold public disclosure of its draft red herring prospectus details. The pre-filing doesn't guarantee an IPO, but it offers greater flexibility on the timing and scope. Founded in 2020, PW is recognized for its wide-ranging educational reach in India, recently valued at $2.8 billion.

Groww Gets SEBI Nod To Launch New Nifty Fund

Inc42 · 1y ago

Groww Gets SEBI Nod To Launch New Nifty Fund

Fintech unicorn Groww has received approval from the Indian market regulator, SEBI, to launch India's first Nifty non-cyclical consumer index fund. The open-ended scheme, managed by AMC Groww Mutual Fund, will be benchmarked against the Nifty Non-Cyclical Consumer Index. The index tracks the performance of non-cyclical consumer stocks in sectors such as consumer goods, telecom, media, and entertainment. This move comes as Groww expands its product portfolio and diversifies its offerings. Groww's parent company, Billionbrains Garage, also reported a net profit of INR 448.7 Cr in FY23 after a significant net loss in the previous fiscal year.

Groww files revised DRHP with strong financials ahead of Rs 7,000 Cr IPO

Entrackr

Entrackr · 15d ago

Groww files revised DRHP with strong financials ahead of Rs 7,000 Cr IPO

Digital investment platform Groww has filed a revised draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) as it gears up for a Rs 7,000 crore initial public offering (IPO). The public issue will include a fresh issue of Rs 1,020 crore alongside a large offer for sale (OFS) by existing investors and co-founders. As per the estimates, the OFS will see secondary share sales worth about Rs 5,000 crore. Peak XV will divest 15.8 crore shares, while YC Holding and Ribbit Capital will offload 10.5 crore and 11.8 crore shares, respectively. Tiger Global, Kauffman Fund, and co-founders Lalit Keshre, Harsh Jain, and Neeraj Singh will also participate in the sell-down. This development comes weeks after the Bengaluru-based firm secured SEBI’s nod for its confidential filing. The IPO will be managed by Kotak, JP Morgan, Citi, Axis Capital, and Motilal Oswal, with MUFG Intime as registrar. Groww plans to deploy the fresh issue proceeds towards strengthening its cloud infrastructure, brand building, investments in subsidiaries, acquisitions, and general corporate purposes. According to the draft red herring prospectus, Peak XV remains Groww’s largest external stakeholder with a 21.73% stake, followed by YC Holding (12.05%). Ribbit Capital and Tiger Global also hold meaningful ownership, while co-founders Keshre, Jain, and Singh own 9.13%, 6.72%, and 6.26%, respectively. On the financial front, Groww posted a 50% year-on-year jump in revenue to Rs 3,902 crore in FY25, up from Rs 2,609 crore in FY24. The company also turned profitable, reporting Rs 1,824 crore versus a loss of Rs 805 crore in FY24. In Q1 FY26, Groww clocked Rs 904 crore in revenue with a profit of Rs 378 crore. The platform reported 18.07 million transacting users, including 14.38 million active clients, during the quarter.

Groww Mutual Fund Launches Nifty Non-Cyclical Consumer Index Fund

Inc42 · 1y ago

Groww Mutual Fund Launches Nifty Non-Cyclical Consumer Index Fund

Groww Mutual Fund has launched India's first Nifty Non-Cyclical Consumer Index Fund, which aims to generate long-term capital growth by investing in equity and equity-related instruments of Nifty Non-Cyclical Consumer Index. The scheme will be open for subscription until May 16, and the minimum investment is INR 500 for lumpsum and INR 1,200 for SIP. The fund focuses on leading companies in non-cyclical sectors that are considered less vulnerable to economic fluctuations. Groww received approval from SEBI to launch the index fund, further expanding its offerings in the mutual fund space.

NFO Alert: Mirae Asset Mutual Fund launches Nifty India Internet ETF

Economic Times

Economic Times · 3m ago

NFO Alert: Mirae Asset Mutual Fund launches Nifty India Internet ETF

Mirae Asset Mutual Fund launched the Mirae Asset Nifty India Internet ETF, an open-ended scheme tracking the Nifty India Internet Total Return Index. The ETF opened for subscription on June 18 and closed on June 25, with continuous sale and repurchase starting on July 2. It allows investors to engage in India’s growing internet economy by investing in a mix of large, mid, and small-cap companies focused on online platforms. Managed by Ekta Gala and Akshay Udeshi, the minimum initial investment is Rs 5,000.

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