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Decoding Growwโ€™s $200 Mn pre-IPO funding round

EntrackrEntrackr ยท 1m ago
Decoding Growwโ€™s $200 Mn pre-IPO funding round
Medial

Decoding Growwโ€™s $200 Mn pre-IPO funding round The development comes just days after the company filed a confidential DRHP with the Securities and Exchange Board of India (SEBI). Groww is looking to raise $700 million to $1 billion through an IPO. Billionbrains Garage Ventures Limited, the parent firm of Groww, is raising Rs 1,735 crore (approximately $200 million) in a fresh round led by Singapore-based GIC and existing investor ICONIQ Capital. The development comes just days after the company filed a confidential DRHP with the Securities and Exchange Board of India (SEBI). Groww is looking to raise $700 million to $1 billion through an IPO. The board at Groww has passed a special resolution to issue 3.59 crore preference shares at an issue price of Rs 482.8 each to raise the aforesaid amount, its filing accessed from the Registrar of Companies shows. Government of Singapore Investment Corporation (GIC), through its affiliate Viggo Investment, will be injecting Rs 867.5 crore ($100 million) while ICQNIC Capital will contribute a similar amount through its entity ISP VII-B Blocker GW. According to the filing, the company will use these proceeds for the growth of its existing business and its subsidiaries. Following the fresh proceeds both ISP Blocker and Viggo Investment will hold 1.43% each. As per Entrackrโ€™s estimates, Groww will be valued at $7 billion post-money. Groww has raised close to $600 million so far from investors including Peak XV, Tiger Global, Ribbit Capital, and YC Continuity. The company was last valued at approximately $3 billion after securing $251 million in its Series E round in October 2021. According to a company internal document, Groww reported a 31% jump in its revenue to Rs 4,056 crore in FY25 whereas its profit jumped 3X jump to Rs 1819 crore in the same period. Groww reported revenue of Rs 3,145 crore and an operating profit of Rs 545 crore in FY24. However, it paid a one-time tax of Rs 1,340 crore for shifting domicile to India, leading to a net loss of Rs 805 crore in FY24. Its audited financial numbers for the fiscal year ending March 2025 has yet to be reported with the RoC.

PB Fintech crosses Rs 1,508 Cr revenue in Q4 FY25; profit triples

EntrackrEntrackr ยท 1m ago
PB Fintech crosses Rs 1,508 Cr revenue in Q4 FY25; profit triples
Medial

PB Fintech, the parent company of online insurance aggregator and brokerage platform PolicyBazaar, has released its financial results for the fourth quarter of the ongoing fiscal year (Q4 FY25). The company reported a 38% growth in scale, while its year-on-year (YoY) profits increased by 2.85X during the same period. PolicyBazaarโ€™s revenue from operations surged 38% to Rs 1,508 crore in Q4 FY25 in contrast to Rs 1,089 crore in Q4 FY24, as per the firmโ€™s consolidated financial results sourced from the National Stock Exchange (NSE). For the full fiscal year (FY25), PolicyBazaarโ€™s operating revenue increased 33% to Rs 4,977 crore in FY25 from Rs 3,738 crore in FY24. The Gurugram-based company generated the largest share (87%) of its operating revenue from insurance broker services, which rose to Rs 1,322 crore in Q4 FY25 from Rs 915 crore in Q4 FY24. For the full fiscal year, it accounted for 86% of the revenue at Rs 4,298 crore. Besides operating revenue, the firm also earned Rs 101 crore via interest and gains from financial assets during the quarter which took its total topline to Rs 1,609 crore in the quarter ending March 2025. Meanwhile, for the full fiscal year, total income crossed the Rs 5,000 crore mark at Rs 5,385 crore. PolicyBazaar has not provided a detailed breakdown of expenses in its quarterly financial statements. However, employee benefits expenses rose by 15% YoY to Rs 508 crore. Overall, the company's total costs grew 29% to Rs 1,437 crore in Q4 FY25 compared to Rs 1,114 crore in Q4 FY24. For the full financial year ending March 2025, the firmโ€™s total expenses rose to Rs 5,039 crore as against Rs 3,739 crore in FY24. In the end, PolicyBazaar's net profits surged 2.85X to Rs 171 crore in Q4 FY25 from Rs 60 crore in Q4 FY24. On a fiscal basis, its net profit spiked 5.5X to Rs 353 crore in FY25 from Rs 64 crore in FY24. PolicyBazaar is currently trading at Rs 1,796 with a total market capitalization of Rs 82,500 crore.

Groww in talks to raise $200 Mn in pre-IPO round

EntrackrEntrackr ยท 3m ago
Groww in talks to raise $200 Mn in pre-IPO round
Medial

News All Stories Groww in talks to raise $200 Mn in pre-IPO round: Report Groww was last valued at approximately $3 billion after securing $251 million in its Series E round in October 2021 and has not raised any new funding since. Shashank Pathak 26 Mar 2025 09:54 IST Follow Us New Update Stock broking company Groww is in discussions to raise $200 million ahead of its initial public offering, which is likely to hit the stock exchange by the end of the year or early next year. The Economic Times, which first reported the development first, said that Groww has held discussions with Singaporeโ€™s sovereign wealth fund GIC, as well as existing investor Tiger Global, for the fundraise. The deal could value the Bengaluru-based startup at around $6.5 billion. Groww has raised close to $400 million so far from prominent investors, including Peak XV, Tiger Global, Ribbit Capital, and YC Continuity. The company was last valued at approximately $3 billion after securing $251 million in its Series E round in October 2021 and has not raised any new funding since. Earlier this year, media reports suggested that Groww is targeting to raise around $1 billion in the IPO, with a valuation goal between $6 billion and $8 billion. Groww is the leading stockbroking company in India, with more than 13 million monthly active users as of February. Growwโ€™s revenue from operations surged to Rs 3,145 crore in FY24. The Lalit Keshre-led 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.

Groww files confidential DRHP with SEBI

EntrackrEntrackr ยท 1m ago
Groww files confidential DRHP with SEBI
Medial

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 Combinatorโ€™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 $6.5โ€“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, Growwโ€™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.

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