Fintech main Groww held talks with a clutch of funding bankers for a possible preliminary public providing (IPO), seemingly be at a valuation of $6-8 billion, in keeping with sources.
The sources added that the corporate is gearing as much as file for anIPO within the subsequent 10-12 months, folks within the know stated.
The agency is predicted to boost round $700 million by means of its IPO, they added.
Lately, the Bengaluru-based agency flipped again its father or mother entity from US to facilitate itemizing in India. Groww paid ₹1,340 crore ($160 million) in taxes calculated on this newly arrived honest market worth (FMV), a reduce of greater than 30 per cent on the $3 billion it was valued throughout its final funding in 2021.
Subscription charges and commissions
Groww’s income from operations surged to ₹3,145 crore in FY24, up from ₹1,435 crore in FY23. The most important sources of income had been subscription charges and commissions, whereas revenue from its tech platforms and assist costs contributed to different segments of its working income.
Groww reported a internet lack of ₹805 crore in FY24, largely because of a one-time tax fee of ₹1,340 crore for relocating its domicile to India. Regardless of this, the corporate remained operationally worthwhile, with earnings of ₹535 crore in FY24 in comparison with ₹458 crore in FY23.
Surpassed rival
Groww surpassed its rival Zerodha final yr by way of variety of lively buyers. Groww added greater than 50 lakh customers until November 2024, greater than double the quantity it had signed up final yr. It has widened the lead over closest rivals Zerodha and Angel One during the last yr.
