<p>Bengaluru: Peak XV-backed wealthtech unicorn Groww’s parent company Billionbrains Garage Ventures confidentially filed for an initial public offering (IPO) under the Securities and Exchange Board of India’s pre-filing mechanism, as per a public notice out on Monday.</p><p>The IPO size is expected to be $700 million - $1 billion, comprising a mix of a fresh issue and an offer for sale component, according to sources familiar with the matter. Proceeds from the IPO are expected to be invested in technology development and business expansion.</p><p>The Bengaluru-based company has filed its draft red herring prospectus (DRHP) under Regulation 59C(5) of Sebi’s Issue of Capital and Disclosure Requirements (ICDR) regulations. It plans to list its shares on the NSE and BSE.</p><p>The firm is backed by investors like Peak XV, Tiger Capital, and Microsoft CEO Satya Nadella.</p>.NSE offers Rs 1,000 crore to settle SEBI case, revive IPO.<p>Merchant bankers to the issue include JP Morgan India Private Limited, Kotak Mahindra Capital Company Limited, Citigroup Global Markets Private Limited, Axis Capital Limited, and Motilal Oswal Securities Limited.</p><p>Groww is reportedly likely to raise $100-150 million in funding at a post-money valuation of $7 billion from Singapore-based asset management firm GIC. The round is part of a larger $250-300 million round, which is expected to close within the next two weeks. Earlier this month, GIC reportedly sought the Competition Commission of India’s (CCI's) approval to acquire a 2.14% stake in Billionbrains Garage Ventures.</p><p>The confidential filing comes amidst geopolitical and market volatilities, due to which companies are delaying IPOs, filing papers confidentially for size flexibility, or reducing the size of their offerings.</p><p>Recently, several firms have opted to take the route of confidential filings, such as PhysicsWallah, Imagine Marketing (parent company of boAt), Tata Capital (financial services arm of Tata Sons). The mechanism was introduced in 2022 and allows companies to keep the details under the DRHP private until further stages. Other firms who have recently slashed the size of their IPOs include Schloss Bangalore Limited (parent company of The Leela Palaces, Hotels and Resorts), Ather Energy, Urban Company.</p><p>Groww turned profitable in the financial year 2022-23 (FY23). Last year, the company reported a net loss of Rs 805 crore, primarily because it paid a one time tax of Rs 1,340 crore to shift its domicile from the US to India. In FY24, Groww reported a revenue of Rs 3,145 crore with an operating profit of Rs 535 crore.</p><p>Groww had a 26% market share in retail broking platform in India as of March 2025.</p>
<p>Bengaluru: Peak XV-backed wealthtech unicorn Groww’s parent company Billionbrains Garage Ventures confidentially filed for an initial public offering (IPO) under the Securities and Exchange Board of India’s pre-filing mechanism, as per a public notice out on Monday.</p><p>The IPO size is expected to be $700 million - $1 billion, comprising a mix of a fresh issue and an offer for sale component, according to sources familiar with the matter. Proceeds from the IPO are expected to be invested in technology development and business expansion.</p><p>The Bengaluru-based company has filed its draft red herring prospectus (DRHP) under Regulation 59C(5) of Sebi’s Issue of Capital and Disclosure Requirements (ICDR) regulations. It plans to list its shares on the NSE and BSE.</p><p>The firm is backed by investors like Peak XV, Tiger Capital, and Microsoft CEO Satya Nadella.</p>.NSE offers Rs 1,000 crore to settle SEBI case, revive IPO.<p>Merchant bankers to the issue include JP Morgan India Private Limited, Kotak Mahindra Capital Company Limited, Citigroup Global Markets Private Limited, Axis Capital Limited, and Motilal Oswal Securities Limited.</p><p>Groww is reportedly likely to raise $100-150 million in funding at a post-money valuation of $7 billion from Singapore-based asset management firm GIC. The round is part of a larger $250-300 million round, which is expected to close within the next two weeks. Earlier this month, GIC reportedly sought the Competition Commission of India’s (CCI's) approval to acquire a 2.14% stake in Billionbrains Garage Ventures.</p><p>The confidential filing comes amidst geopolitical and market volatilities, due to which companies are delaying IPOs, filing papers confidentially for size flexibility, or reducing the size of their offerings.</p><p>Recently, several firms have opted to take the route of confidential filings, such as PhysicsWallah, Imagine Marketing (parent company of boAt), Tata Capital (financial services arm of Tata Sons). The mechanism was introduced in 2022 and allows companies to keep the details under the DRHP private until further stages. Other firms who have recently slashed the size of their IPOs include Schloss Bangalore Limited (parent company of The Leela Palaces, Hotels and Resorts), Ather Energy, Urban Company.</p><p>Groww turned profitable in the financial year 2022-23 (FY23). Last year, the company reported a net loss of Rs 805 crore, primarily because it paid a one time tax of Rs 1,340 crore to shift its domicile from the US to India. In FY24, Groww reported a revenue of Rs 3,145 crore with an operating profit of Rs 535 crore.</p><p>Groww had a 26% market share in retail broking platform in India as of March 2025.</p>