Groww IPO Attracts Major Sovereign Funds Backing $7 Billion Valuation

Groww, a Bengaluru-based digital stock brokerage platform operated by Billionbrains Garage Ventures, is launching an Initial Public Offering (IPO) valued at ₹6,630 crore, attracting significant interest from global sovereign wealth funds including Norway's Norges Bank Investment Management, Abu Dhabi Investment Authority, and Singapore's GIC. The IPO comprises a fresh share issuance of ₹1,060 crore and an offer-for-sale by existing shareholders such as Tiger Global, with nearly 40 investors participating in the anchor book round, which alone is expected to raise ₹2,950 crore. Valued at around $7 billion at the upper price band, Groww's IPO signals growing confidence in India's fintech sector and aims to fuel expansion into services like margin trading, unsecured lending, and wealth management. With 14.38 million active users, Groww competes with firms like Zerodha and Angel One in the fast-growing Indian capital market, and the IPO is poised to be one of the largest in 2025. The participation of major international investors lends credibility to the offering, potentially encouraging retail investor interest, although overall success will depend on market sentiment and execution of growth strategies. The IPO's strong demand is reflected in a grey market premium, suggesting a potential listing gain for investors.