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The sources indicated that the offering could generate $750 million or more. Billionbrains Garage aims to achieve a valuation ranging from $7 billion to $8 billion, according to their statement. JPMorgan Chase & Co. and Kotak Mahindra Bank will serve as underwriters for the IPO. According to Bloomberg's sources, talks are still in the initial phase, and aspects like the IPO size and timing may change.
Groww is among the largest fintech platforms in India, established in 2016 by former employees of the e-commerce firm Flipkart. It offers private investors access to financial tools, boasting over 50 million users. Investors in Groww comprise Microsoft CEO Satya Nadella, along with investment companies Ribbit Capital and Tiger Global.
In 2024, firms going public in India have secured over $20 billion, according to Bloomberg. The Indian initial public offering market has turned into the second most active, only after the United States. The most significant IPO in India's history was that of Hyundai Motor's local unit, which raised $3.3 billion, while food delivery company Swiggy garnered $1.3 billion, NTPC Green Energy, an arm of India's state-run power producer, raised $1.2 billion, and retailer Vishal Mega Mart brought in $944 million.
source: bloomberg.com
Groww is among the largest fintech platforms in India, established in 2016 by former employees of the e-commerce firm Flipkart. It offers private investors access to financial tools, boasting over 50 million users. Investors in Groww comprise Microsoft CEO Satya Nadella, along with investment companies Ribbit Capital and Tiger Global.
In 2024, firms going public in India have secured over $20 billion, according to Bloomberg. The Indian initial public offering market has turned into the second most active, only after the United States. The most significant IPO in India's history was that of Hyundai Motor's local unit, which raised $3.3 billion, while food delivery company Swiggy garnered $1.3 billion, NTPC Green Energy, an arm of India's state-run power producer, raised $1.2 billion, and retailer Vishal Mega Mart brought in $944 million.
source: bloomberg.com