According to reports, stockbroking company Groww is preparing for an IPO. While a few fintech start-ups have already gone public, Groww will be the first stockbroking start-up among contemporary start-ups, especially to become an IPO.
The company aims to list as an IPO within 10-12 months. The company is expected to be valued at $6 billion to $8 billion. According to reports, Groww has started discussions with investment bankers and will soon select advisors for the IPO.
So far, Grow Peak has raised $400 million from leading investors such as XV, Tiger Global, Ribbit Capital, and YC Continuity. After a Series E funding of $251 million in October 2021, Groww was valued at $3 billion. Since then, there have been no new funding rounds.
In May last year, Groww moved its headquarters from the US to India. It now has 13 million active users. As per the latest data provided by NSE, Groww had a market share of 26.59% in December 2023. Gro O's main rivals Seva and AngelOne had a market share of 16.41% and 15.67% respectively at that time.
