Groww's parent company Billionbrains Garage Ventures eyes ₹6,500 crore IPO this year: Report
Groww was founded in 2016 by four Flipkart colleagues as an investing platform. It currently has more than 50 million users.
Billionbrains Garage Ventures Pvt. Ltd, the parent company of financial services platform Groww Invest Tech Pvt. Ltd, could file for an Initial Public Offering (IPO) this year, Bloomberg reported.

The IPO would be to raise $750 million ( ₹6,477.95 crore) or more with Billionbrains Garage seeking a valuation of $7 billion to $8 billion ( ₹60,460.92-69,098.20 crore), though these are preliminary numbers which could vary later, according to the report.
The company has picked banks including JPMorgan Chase & Co. and Kotak Mahindra Bank Ltd to facilitate the IPO, though more banks may also be added, according to the report.
Groww was founded in 2016 by four Flipkart colleagues as an investing platform. It currently has more than 50 million users.
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It is also backed by Microsoft's Chief Executive Officer Satya NadellaPeak XV Partners, formerly known as Sequoia Capital India & Southeast Asia, Ribbit Capital and Tiger Global.
Groww's parent company benefits from its strong market position and emergence as one of the leading discount brokers in India, according to the report which cited credit rating agency ICRA Ltd.
This is important since it comes at a time when India's retail investor pool is significantly expanding just like its IPO market, which is the second-largest in the world.
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For instance, more than $20 billion was raised collectively by Indian IPOs last year, which includes the record-breaking listing of Hyundai Motor Co.’s local unit. Apart from that, the US. LG Electronics Inc. is also considering an IPO in India along with Apollo Global Management Inc's auto-parts supplier Tenneco Inc, according to the report.
