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News on Medial
IPO-Bound Groww Bags $200 Million at $7 Billion Valuation, FY25 Profits Triple
StartupTalky
·
1m ago
Medial
Groww, an online investment platform, has raised $200 million from a funding round led by GIC, increasing its valuation to $7 billion as it prepares for its IPO. The company plans to allocate the funds to improve product offerings, expand user reach, and enhance technology infrastructure. Groww has demonstrated significant financial growth, reporting a net profit of INR 1,819 crore in FY25. With over 13 million users, it remains India’s largest retail stockbroker by active clients.
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Groww triples FY25 net profit to Rs 1,819 crore; closes $200 million funding round at $7 billion valuation
Economic Times
·
1m ago
Medial
Groww, a wealth management platform, reported a threefold increase in net profit to Rs 1,819 crore for FY25, with revenue rising 31% to Rs 4,056 crore. The Bengaluru-based company closed a $200 million funding round at a $7 billion valuation. Despite paying a one-time tax in FY24 that resulted in a net loss, Groww continues to expand, recently acquiring Fisdom for $150 million, and plans an IPO to raise $700 million to $1 billion.
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Startup news and updates: Daily roundup (June 13, 2025)
YourStory
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1m ago
Medial
On June 13, 2025, significant developments in the Indian startup ecosystem were highlighted. IPO-bound Groww reported a threefold profit jump to Rs 1,819 crore in FY25 and raised $200 million at a $7 billion valuation. Spinny raised $30 million from WestBridge Capital, maintaining its valuation between $1.5-$1.7 billion. Sunfox Technologies developed a portable ECG device for cardiac diagnosis. OpenAI partnered with Mattel to incorporate AI across its toy brands, enhancing consumer interaction.
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IPO-bound Groww to launch new trading terminal '915' for professional traders: Report
IndianStartupNews
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25d ago
Medial
Groww, India’s leading stockbroker, plans to launch a new trading platform named "915" for professional traders ahead of its IPO. The web-only platform will offer advanced trading tools and a subscription for premium features, aligning with its diversification strategy. Facing regulatory challenges in the Indian stock broking sector, Groww is shifting focus towards high-net-worth clientele. With increased revenue, Groww filed for an IPO, aiming for a valuation between $7-8 billion.
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Singapore's GIC gets CCI approval to buy stake in IPO-bound Groww - The Economic Times
Economic Times
·
1m ago
Medial
Viggo Investment, a subsidiary of Singapore's GIC, received Competition Commission of India (CCI) approval to acquire a 2.14% stake in Billionbrains Garage Ventures, owner of Groww. This investment is part of a larger funding round of $250-300 million, with GIC expected to contribute $150 million. Groww recently concluded a $250 million funding round led by GIC, at a valuation of $6.5 billion. The company plans to file for an IPO estimated between $700 million and $1 billion.
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Fintech Unicorn Groww Set to File Confidential IPO Papers With Sebi
OutlookIndia
·
2m ago
Medial
Groww, a Bengaluru-based investment tech start-up, is set to file confidential IPO papers with SEBI, targeting a $7-8 billion valuation. The company is closing a $150 million pre-IPO funding round led by Singapore’s GIC. Groww, originally a mutual fund platform, now offers stock trading and other financial products, and plans to expand into wealth management. It may also acquire PayU-backed Fisdom, indicating further expansion into wealth management.
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Fidelity marks up IPO-bound Lenskart's valuation to $6.1 Bn
Entrackr
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1m ago
Medial
Fidelity marks up IPO-bound Lenskart's valuation to $6.1 Bn The development comes as Lenskart prepares for its initial public offering (IPO), with plans to raise $1 billion at a targeted valuation of $10 billion. Fidelity has revised the valuation of omnichannel eyewear retailer Lenskart to $6.1 billion, as per its latest monthly portfolio holdings update. In November, Fidelity valued the Peyush Bansal-led company at $5.6 billion. In June 2024, Lenskart raised $200 million via a secondary round, followed by a $20 million investment led by Bansal. As of now, the company has secured nearly $1 billion and reached a valuation of $5 billion during the secondary deal in which Fidelity also participated. Just last week, the company converted its holding entity from a private limited to a public limited company, a move exclusively reported by Entrackr. Media reports also suggested that Lenskart is set to file its draft red herring prospectus (DRHP) confidentially with the markets regulator by the end of this month. Lenskart inched closer to profitability in FY24, with losses narrowing sharply by 84% to Rs 10 crore from Rs 63 crore in FY23. The company’s revenue from operations rose by 43% to Rs 5,427.7 crore in FY24. Its FY25 result has yet to be reported. Lenskart is also exploring the acquisition of location intelligence startup GeoIQ.
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Groww files draft papers for IPO, eyes $700 million to $1 billion listing
Economic Times
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2m ago
Medial
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.
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Decoding Groww’s $200 Mn pre-IPO funding round
Entrackr
·
1m ago
Medial
Decoding Groww’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 Entrackr’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.
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Tiger Global-backed Groww confidentially files for up to $1-bn IPO
VCCircle
·
2m ago
Medial
Groww, backed by Tiger Global, has confidentially filed for an IPO with SEBI, aiming to raise $800 million to $1 billion, valuing the company at around $7 billion. The IPO will combine fresh issues and offer-for-sale components. Proceeds will enhance technology infrastructure and business expansion. Groww, India's largest stock broking firm, has a 26% market share, with a significant client base increase. Additionally, it plans to raise $150 million from GIC, amid ongoing funding efforts.
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Groww in talks to raise $200 Mn in pre-IPO round
Entrackr
·
4m ago
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 Singapore’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. Groww’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.
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