News Summary

Groww, India’s largest retail stockbroker, is preparing to file for an initial public offering (IPO) in 10 to 12 months, targeting a valuation between $6 billion and $8 billion. This listing would mark the first IPO by a digital trading platform in India and represents a significant milestone for the country’s fintech sector. Groww, headquartered in Bengaluru, had shifted its domicile to India from the U.S. last year as part of its IPO preparations. The app boasts 13.2 million active users as of December, surpassing its closest competitor, Zerodha, which has 8.1 million users. Groww is adding between 325,000 to 550,000 new users each month, outpacing its rivals. Backed by investors such as Peak XV, Tiger Global, and Alkeon, Groww has started discussions with investment banks and will soon select advisors for the IPO. The Indian tech sector has seen a surge in public listings, with seven technology startups going public in 2024. Over 20 Indian startups, including Zetwerk, Table Space, PayU, and PharmEasy, plan to go public in 2025.