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The company has issued 3.59 crore preference shares at a price of ₹482.8 each
Fintech major Groww has raised ₹1,735 crore (approximately $200 million) in a fresh round led by Singapore-based GIC and existing investor ICONIQ Capital, according to filings from Toflr.
The company has issued 3.59 crore preference shares at a price of ₹482.8 each, according to the filings. The company will use these proceeds for the growth of its existing business and its subsidiaries.
Government of Singapore Investment Corporation (GIC), through its affiliate Viggo Investment, will be injecting ₹867.5 crore ($100 million) while Iconiq Capital will contribute a similar amount through its entity ISP VII-B Blocker GW. Following the fresh proceeds both ISP Blocker and Viggo Investment will hold 1.43 per cent each.
This fundraise comes at a time when the company has filed a confidential DRHP with the Securities and Exchange Board of India (SEBI) to raise $700 million to $1 billion through its initial public offering (IPO).
As reported earlier, merchant bankers to the issue include JP Morgan India Private Limited, Kotak Mahindra Capital Company Limited, Citigroup Global Markets Private Limited, Axis Capital Limited, and Motilal Oswal Securities Limited.
Groww started operations in 2016 and has emerged as the fastest-growing retail broking platform in India in FY25, with over 26 per cent market share as of March 2025. Groww has reported a more than threefold jump in net profit to ₹1,819 crore and a 31 per cent increase in revenue to ₹4,056 crore for fiscal 2025.
In FY25, Groww emerged as the single-largest contributor, adding 34 lakh new accounts — a 40 per cent share of NSE’s growth. The company’s active client base rose from 9.5 million in March 2024 to 1.29 crore in March 2025, reflecting a sharp 36 per cent year-on-year increase.
Last year, the company paid a one-time tax of ₹1,340 crore in India’s domicile move, leading to a net loss of ₹805 crore. The firm has also expanded into digital lending, wealth management and allied services.
Recently, it acquired PayU-backed fintech platform Fisdom for around $150 million, marking its entry into wealth advisory.
Published on June 13, 2025
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