Groww, an India-Based D2C Trading App, $1 Billion IPO

Groww, a Bengaluru-based personal trading and investment platform (similar to Robinhood), has announced that it is moving forward with its IPO at the top end of its range of $700 million to $1 billion, targeting a valuation of up to $8 billion. The offering, field in May, is scheduled for next month. Regulatory approval from SEBI is pending.

Founded in 2016 by former Flipkart employees Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal, Groww provides retail investors in India with access to mutual funds, equities, and other investment products. The platform currently serves over 70 million registered users and manages $20 billion in assets. It has gained traction through AI-driven advisory tools and zero-brokerage equity trading, particularly among younger investors in Tier-II and Tier-III cities.

The IPO signals a maturation of India’s WealthTech sector and could influence investor sentiment and platform strategy across the region. Advisors and integrators may see increased demand for digital-first solutions and expanded competition in lending and insurance verticals.

Knote-----

If anyone is wondering why the D2C WealthTech market in India is on fire, it's just simple math. The Mass Affluent class is growing so rapidly that there is absolutely no way the number of human advisors can keep up. It has to be technology to the rescue. I wish I were younger, skinnier, and could abide spicy food. I would be there right now.

Link to Article