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Groww IPO values foundersโ€™ stake at $1.85 Bn; Y Combinator set for 29X return in OFS

EntrackrEntrackr ยท 2m ago
Groww IPO values foundersโ€™ stake at $1.85 Bn; Y Combinator set for 29X return in OFS
Medial

Groww IPO values foundersโ€™ stake at $1.85 Bn; Y Combinator set for 29X return in OFS Digital investment platform Groww filed its Red Herring Prospectus (RHP) on October 29, 2025, for its Rs 6,632.3 crore initial public offering (IPO). The issue will open for subscription on November 4 and close on November 7. According to the RHP, Growwโ€™s IPO will comprise a fresh issue of shares worth Rs 1,060 crore and an offer for sale (OFS) of Rs 5,572.3 crore at the upper price band of Rs 100 per share, with early major investors participating in the OFS. The offering is expected to value the company at around Rs 61,736 crore (approximately $7 billion). Growwโ€™s marquee investors are set to earn significant returns from the IPO. Peak XV Partners, the companyโ€™s largest shareholder with a 19.87% stake, will partially exit by selling around 3 crore shares worth Rs 305.5 crore, yielding a 5.2X return on its investment. Meanwhile, Ribbit Capital will be the largest selling investor, offloading shares worth Rs 1,181 crore, giving it a return multiple of 5.5X. Y Combinator, which holds a 13.42% stake in Groww, will be offloading 10.5 crore shares worth Rs 1,054.8 crore. Based on its average acquisition cost of Rs 3.45 per share, the firm is set to earn an impressive 29X return on its investment. Another key investor, Tiger Global, will also participate in the OFS, selling shares worth Rs 518.4 crore for a 4.55X return. Kauffman Fellows, one of Growwโ€™s early backers, is set to earn the highest return of 196X on its investment, with an average cost of acquisition of just Rs 0.51 per share. Meanwhile, Alkeon Capital, Nirman Ventures, and Propel Venture Partners will also participate in the OFS, selling shares worth Rs 447 crore, Rs 179 crore, and Rs 162.7 crore, respectively. Growwโ€™s co-founders are set to see a substantial increase in the value of their holdings following the IPO, with their collective stake valued at Rs 16,316 crore ($1.85 billion). CEO Lalit Keshre, who holds a 9.12% stake, will see his shareholding valued at Rs 5,591 crore (around $635 million). COO Harsh Jainโ€™s stake is valued at Rs 4,116 crore ($467 million), while co-founders Neeraj Singh and Ishan Bansal hold stakes worth Rs 3,832 crore ($435 million) and Rs 2,777 crore ($315 million), respectively. Last month, Growwโ€™s co-founders collectively pocketed over Rs 700 crore through incentives and secondary share sales. Groww continued to lead Indiaโ€™s stockbroking space with 11.9 million active users and a 26.28% market share as of September. However, its user base saw a 1.36% month-on-month decline from 12.07 million in August. The Bengaluru-based stock broking and wealth management firmโ€™s operating revenue surged nearly 50% year-on-year to Rs 3,902 crore in FY25, while its profit soared to Rs 1,824 crore during the same period. In Q1 FY26, however, Growwโ€™s revenue declined nearly 10% YoY to Rs 904.4 crore, with the company posting a profit of Rs 378.36 crore.

Amagi IPO unlocks 14x returns for Premji Invest, multi-fold gains for others

EntrackrEntrackr ยท 9d ago
Amagi IPO unlocks 14x returns for Premji Invest, multi-fold gains for others
Medial

Amagi IPO unlocks 14x returns for Premji Invest, multi-fold gains for others According to analysis done by Entrackr, marquee venture capital firms including PI Opportunity Fund, Norwest Venture Partners, and Accel India are staring at multi-fold gains on their initial investments. Bengaluru-based SaaS firm Amagi Media Labs Ltd has filed its red herring prospectus (RHP) and announced a price band of Rs 343โ€“Rs 361 per share for its upcoming initial public offering (IPO). PI Opportunity Fund (Premji Invest), the largest institutional shareholder in Amagi, invested nearly Rs 114 crore at an average acquisition cost of around Rs 25.5 per share. At the upper end of the IPO price band, the fundโ€™s stake is now valued at over Rs 1,610 crore, translating into a return of over 14x. The fund is set to partially exit via an offer-for-sale (OFS) of about 1.33 crore shares, which alone is worth nearly Rs 480 crore. Norwest Venture Partners X, which invested around Rs 504 crore, is also poised for a significant payday. Its holding is now valued at approximately Rs 1,056 crore, a little over a 2x return. The firm is selling 33.8 lakh shares worth about Rs 122 crore in the IPO. Similarly, Accel India, which invested nearly Rs 246 crore, is set to see its stake grow to around Rs 821 crore, generating over 3x returns. Accel plans to offload more than 50.7 lakh shares through the OFS, valued at about Rs 183 crore at the IPO price band. Trudy Holdings, another early backer, has also clocked a more than 3x jump, with its stake now valued at over Rs 461 crore. Apart from institutional investors, several early individual shareholders are also set to achieve substantial gains. Angel investors such as Prem Gupta, Moglixโ€™s founder Rahul Garg, Rajat Garg, and Rajesh Ramaiah who invested small amounts in Amagi, saw their holdings multiply several times over, with returns ranging from 5x to over 15x, despite modest capital outlay. Amagiโ€™s IPO is also expected to significantly boost the wealth of its founding team. The companyโ€™s promoters i.e. Baskar Subramanian, Srividhya Srinivasan, and Arunachalam Srinivasan, together hold a substantial stake in the company, which is now valued at Rs 1,039 crore at the IPO price band. Individually, Baskar Subramanianโ€™s holding is valued at around Rs 345 crore, while Srividhya Srinivasan and Arunachalam Srinivasan hold stakes worth approximately Rs 345 crore and Rs 348 crore, respectively. Amagiโ€™s Rs 1,788.62 crore public issue will open for subscription on January 13 and close on January 16, while the anchor book will open on January 12. The company has fixed the lot size at 41 shares, translating to a minimum retail investment of around Rs 14,800 at the upper end of the price band.

Shadowfax IPO set to deliver multifold gains for Kunal Bahl, Flipkart, Eight Roads, and others

EntrackrEntrackr ยท 3d ago
Shadowfax IPO set to deliver multifold gains for Kunal Bahl, Flipkart, Eight Roads, and others
Medial

Shadowfax is gearing up for its Rs 1,907 crore initial public offering as the company has set the upper end of its IPO price band at Rs 124 per share. The fixed price band has cleared the way for significant returns for several early investors. According to the price band and offer details, a number of strategic and financial backers are set to gain multi-fold returns on their initial investments as they pare their holdings in the logistics startup. Flipkart, one of Shadowfaxโ€™s early and strategic investors, is expected to generate nearly 3X returns on its investment by selling shares worth around Rs 237 crore through the OFS. Eight Roads Investments, an affiliate of Fidelity, stands out among financial investors with an estimated 10X return on shares worth Rs 197 crore. NewQuest Asia Fund is set to make about 2X returns by offloading shares worth Rs 150 crore, while Nokia Growth Partners (NGP Capital) is likely to see nearly 4X gains on its Rs 101 crore OFS. The International Finance Corporation (IFC), the World Bankโ€™s private-sector arm, is also expected to exit partially with around 4X returns on shares worth Rs 84 crore. Among other investors, Mirae Asset is set to generate close to 4.9X returns on its Rs 138 crore stake sale, while Qualcomm Asia Pacific is expected to earn around 5X returns by selling shares worth Rs 62 crore. Notably, individual investors Kunal Bahl and Rohit Kumar Bansal are set to emerge as the biggest winners in percentage terms. Each is selling shares worth about Rs 14 crore, translating into a massive 157X return on their initial investments, according to the IPO price band. Shadowfaxโ€™s IPO comprises a fresh issue of around Rs 1,000 crore and an offer-for-sale (OFS) component of approximately Rs 907 crore. The company is targeting a post-money valuation near Rs 7,400 crore, lower than earlier internal drafts. Founded in 2015 by Abhishek Bansal, Vaibhav Khandelwal, Praharsh Chandra, and Gaurav Jaithliya, the Bengaluru-based firm provides last-mile delivery across e-commerce and hyperlocal sectors, serving over 14,000 pin codes through 1.25 lakh delivery partners.

Digit Insurance IPO's retail portion fully subscribed; key highlights of the offering

Economic TimesEconomic Times ยท 1y ago
Digit Insurance IPO's retail portion fully subscribed; key highlights of the offering
Medial

Bengaluru-based digital insurance company, Go Digit General Insurance Ltd, has launched its Rs 2,615 crore initial public offering (IPO). The retail portion of the IPO was fully subscribed by 1.45 pm on Wednesday. The IPO comprises a fresh equity issue of Rs 1,125 crore and an offer for sale (OFS) of up to 54.7 million shares. Go Digit plans to use the net proceeds to support ongoing business operations and finance future growth activities, particularly focusing on digital and omnichannel expansion. The company reported a net profit of Rs 129 crore for April-December FY24 and achieved a valuation of $3 billion-$3.2 billion for the IPO. However, it has faced legal issues and penalties from the IRDAI.

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