Groww, an online investment platform, has received SEBI approval to initiate its IPO, which could generate between $800 million and $1 billion. Its parent company recently secured approximately Rs 1,735 crore (~$200 million) from investors, including Singapore’s GIC. Groww plans to list in India following the restructuring of its US holding company, which incurred $160 million in taxes. To date, Groww has raised $600 million from investors and was valued at $3 billion in 2021. In the previous financial year, Groww’s revenue increased by 31% to Rs 4,056 crore, while its profit tripled to Rs 1,819 crore. However, the company reported a loss the year prior due to a significant tax payment. The latest financial report is not yet available.
