🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

Related News

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

EntrackrEntrackr · 6m 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 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.

Fintech unicorn Groww eyes $6-8 Bn IPO: Report

EntrackrEntrackr · 8m ago
Fintech unicorn Groww eyes $6-8 Bn IPO: Report
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.

Groww expands lead over Zerodha with 12.59 Mn active users in October

EntrackrEntrackr · 10m ago
Groww expands lead over Zerodha with 12.59 Mn active users in October
Medial

Bengaluru-based stock broker Groww has surpassed the 1.25 crore (12.59 million) mark in active traders in October, driven by the addition of around 3.5 lakh users in a single month, according to data from the National Stock Exchange (NSE). Zerodha, Groww’s closest competitor, had approximately 80.6 lakh (8.06 million) active investors as of last month. Groww overtook Zerodha in October last year and has held the top position ever since. As per the NSE’s data, Groww has nearly doubled its user base over the past year, whereas Zerodha added just 15 lakh new users. Angel One, the third-largest stockbroker, has 75 lakh (7.53 million) active users and may surpass Zerodha in the coming months. Upstox ranked fourth, had 28.52 lakh (2.85 million) users as of last month. ICICI Direct is the fifth largest player in this space with 19.3 lakh active users (1.93 million). Dhan, launched by former Paytm Money executive Pravin Jadhav, had 8.49 lakh (0.84 million) users as of October. Dhan entered the top 10 list of stockbroking apps in India in August this year, replacing Paytm Money. INDmoney and PhonePe's Share.Market are the new entrants in the top 20 list with 6.7 lakh (0.67 million) and 2.69 lakh (0.26 million) respectively. In terms of scale, Zerodha had the highest revenue in FY24 at Rs 8,370 crore, followed by Angel One, which reported Rs 4,272 crore in revenue for the last fiscal year. Nithin Kamath’s Zerodha reported a profit of Rs 2,907 crore, while Angel One’s profits exceeded Rs 1,125 crore in FY24. 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. Despite this, the firm remained operationally profitable. Upstox, which posted over Rs 1,000 crore in revenue in FY23, has yet to file its annual report for FY24.

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

EntrackrEntrackr · 15d ago
Groww files revised DRHP with strong financials ahead of Rs 7,000 Cr IPO
Medial

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.

Download the medial app to read full posts, comements and news.