Fintech app Groww files for ₹6,634 crore IPO
Fintech app Groww is going public with an IPO priced at ₹95-100 per share, aiming for a valuation of up to ₹61,735 crore.
The total issue size is ₹6,634 crore (₹1,060 crore fresh issue + ₹5,574 crore offer for sale).
You can apply between November 4 and 7; listing is expected by November 12.
Groww's app simplifies investing in financial products
Groww lets users invest in mutual funds, stocks, and more—all through a simple app.
It's become popular among young investors looking for easy access to financial markets.
The company will finalize allotments on November 10 and anchor bidding starts November 3.
Co-founders and major investor Peak XV Partners are selling stakes
The four co-founders together hold over 26.6% of the company, having significantly increased their stakes in the last year.
For example, Lalit Keshre's share alone is valued at ₹5,591 crore.
Major investor Peak XV Partners holds 19.9%, valued at ₹12,176 crore.