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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, Backed by Microsoft CEO, Files for $1 Billion IPO With SEBI, Plans NSE and BSE Listing | DeepNewz India
Business Bytes
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2m ago
Medial
Investment platform Groww has confidentially filed IPO documents with SEBI, planning to raise between $700 million to $1 billion. The IPO will include both new shares and an offer for sale.
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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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Fintech unicorn Groww rejigs ownership structure amid IPO buzz
VCCircle
·
5m ago
Medial
Online investing platform Groww is restructuring its shareholding amid IPO buzz. Originally domiciled in the US, Groww moved back to India last year in preparation for its IPO. The company, backed by investors like Tiger Global, is set to adjust ownership among its investors and co-founders, Neeraj Singh, Harsh Jain, Lalit Keshre, and Ishan Bansal. This realignment positions Groww strategically for its potential public market entry.
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Tiger Global-backed Groww settles case with SEBI over app outage, suffers another glitch
VCCircle
·
2m ago
Medial
Groww, an online investment platform backed by Tiger Global, has settled a case with the Securities and Exchange Board of India (SEBI) after an app outage in 2024. It paid Rs 34 lakh to resolve the issue. Recently, another glitch caused erroneous stock price information, showing some users as temporary millionaires. Groww’s ownership restructuring comes ahead of a planned IPO, and it aims to raise up to $1 billion. Founded in 2016, it has expanded into various financial services.
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Fintech unicorn Groww picks up majority stake in in-house lending arm
VCCircle
·
1y ago
Medial
Groww, the online investing platform backed by Tiger Global, has acquired a majority stake in its in-house lending arm. The parent company, Billionbrains Garage Ventures Pvt Ltd (BGV), set up the non-banking finance company. This move will allow Groww to further expand its range of financial services and strengthen its position in the fintech market. Groww recently emerged as the largest stockbroker in terms of active users, surpassing Zerodha.
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Flipkart-Backed BlackBuck Files DRHP For INR 550 Cr IPO
Inc42
·
1y ago
Medial
BlackBuck, a technology platform for logistics in India, plans to raise $75 million in a new funding round. The round could value the startup, backed by Tiger Global and Goldman Sachs, at $1 billion. The new round follows a $27 million funding round in May, which was also led by Tiger Global. BlackBuck aims to use the funding to expand its services and strengthen its technology capabilities. The company currently serves over 10,000 clients and has a network of over 700,000 trucks.
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Peek at Tiger Global-backed Infra.Market's game plan as it gears up for $1-bn IPO
VCCircle
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3m ago
Medial
Infra.Market, a Tiger Global-backed company, is preparing for a $1 billion IPO. The firm aims to significantly enhance its private label offerings and escalate sales to the direct-to-retail sector. After surpassing the $2 billion revenue mark last year, Infra.Market targets nearly a 40% revenue increase in the next two years. Co-founders Aaditya Sharda and Souvik Sengupta are focused on strategic growth as the company advances its market position.
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Tiger Global-backed Infra.Market poised for $2-bn annual revenue ahead of IPO
VCCircle
·
5m ago
Medial
Infra.Market, a building materials platform backed by Tiger Global, is set to exceed $2 billion in revenue by the financial year ending March 2025. The Mumbai-based company, operated by Hella Infra Market Ltd, plans to launch an initial public offering (IPO). Infra.Market provides a wide range of in-house and third-party building products. The company is in the process of scaling up its operations and enhancing its online marketplace presence ahead of the IPO.
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Groww files confidential DRHP with SEBI
Entrackr
·
2m ago
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 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.
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Fintech unicorn Groww eyes $6-8 Bn IPO: Report
Entrackr
·
6m ago
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 hasn’t raised a new round since then. It’s worth noting that Groww completed its domicile transition back to India from the US in May last year. Entrackr exclusively reported on Groww’s relocation plan in September 2023. Groww’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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