Groww plans ₹7,000cr IPO in early November
Groww, the popular digital investment platform, is set to launch a ₹7,000 crore IPO in early November 2024.
The offer includes ₹1,060 crore in new shares and ₹5,940 crore from existing shareholders cashing out.
Groww is aiming for a big leap—a valuation close to $8 billion (about ₹70,400 crore).
The final price band will be out by late October.
What does Groww do?
Groww helps users invest in mutual funds, stocks, and now even commodities—all through a clean, easy-to-use app.
It's become a go-to for young investors who want simple access to financial markets without jargon or hassle.
The company keeps expanding its toolkit: earlier this year it bought Fisdom for wealth management, and as of October 16, 2024, you can trade gold, silver, crude oil, and natural gas on Groww too.
IPO details
The IPO is expected to be structured so that 75% is set aside for institutional buyers, 15% for big individual investors, and 10% for retail folks.
Groww's recent moves—like adding commodities and acquiring Fisdom—show it's serious about giving users more ways to build their portfolios.