Sequoia Capital US to Join Groww’s Anchor Book
Wealth-tech company Groww has attracted bids totaling Rs 50,000 crore from major domestic mutual funds and international investors ahead of its IPO launch on November 4, as per reports.
The anchor book, valued at approximately Rs 3,000 crore, has been oversubscribed over 15 times, attracting participation from eight of the 10 large mutual funds, including SBI Mutual Fund, along with significant US investors like Sequoia Capital, Dragoneer Investment Group, and Coatue Management.
The interest from a combination of Indian and international crossover funds highlighted the robust demand for one of India's largest and most lucrative fintech startups.
The initial public offering (IPO) of Rs 6,632 crore from one of India's most lucrative startups will estimate the Bengaluru-based brokerage firm at approximately $7 billion and has garnered significant interest from local funds.
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On October 29, Groww revealed its IPO price range of Rs 95–Rs 100, which values the firm at approximately Rs 62,500 crore ($7.1 billion). The Rs 6,632 crore offering consists of a new issue of Rs 1,060 crore and a sale offer of Rs 5,572 crore.
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In FY25, the Bengaluru-based fintech announced a revenue of Rs 4,056 crore and a net profit of Rs 1,899 crore, achieving net margins of 44.85percent. The IPO is available for subscription between November 4 and 7, 2025.
In contrast to numerous New Economy counterparts, Groww is entering the market as a profitable fintech, presenting itself with a price-to-earnings ratio of 33.5 - greater than conventional brokerages yet among the more justifiable within India’s startup sector.
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The distribution of IPO shares will be completed by November 10, and Groww shares will start trading on the BSE and NSE from November 12.
The firm will release new shares valued at Rs 1,060 crore, whereas investors Peak XV Partners, YC Holdings, Ribbit Capital, Internet Fund, Kauffman Fellows Fund, Alkeon Capital Management, Propel Venture Partners, and Sequoia Capital Global will divest 55.72 crore equity shares (amounting to Rs 5,572.3 crore) through the offer-for-sale method.