Satya Nadella-Backed Groww Returns to India, Files for $9 Billion IPO

September 17, 2025

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Groww Comes Back to India and Plans IPO

Groww, an investment app backed by Satya Nadella, has become the first Indian startup to move back from the U.S. to India and go public. Earlier, the company was registered in Delaware, USA.

About a year ago, it shifted its base to India, paying US$159 million in taxes during the process.

This is important because many startups register outside India, but Groww is showing confidence in the Indian market by coming back.

IPO Plans and Share Sale

Groww will raise about ₹10.6 billion (US$121 million) by selling new shares in its IPO. Along with this, existing investors will sell 574 million shares, which may bring in another ₹5–6 billion (US$568–682 million).

Altogether, the company could be valued at nearly US$9 billion.

Big investors like Peak XV, Y Combinator, Ribbit Capital, and Tiger Global will sell a large part of their holdings.

But the founders of Groww are selling less than 1% of their shares, showing they want to stay invested for the long run.

Financial Performance and Market Significance

Groww has shown strong financial growth in recent years. For the year ending March 31, 2024, the company reported:

Revenue: ₹40.6 billion (US$462 million), a 45% rise compared to last year.
Profit: ₹18.2 billion (US$208 million), after making a loss the previous year.

This turnaround highlights how Groww has scaled its investment platform, which offers stocks, mutual funds, and financial products to millions of Indian retail investors.

The IPO is being closely watched because it could set a benchmark for other Indian fintechs thinking of listing in India instead of abroad.

About Groww

Groww is a Bengaluru-based fintech company that offers an easy-to-use online platform for investing in stocks, mutual funds, ETFs, U.S. stocks, and other financial products. Founded in 2016 by Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal, all former Flipkart employees, the company’s goal is to make investing simple and accessible for everyone in India.

Its app and website are especially popular among young and first-time investors because of their clean design, low costs, and simple language. Over the years, Groww has attracted funding from big global investors like Y Combinator, Tiger Global, Sequoia Capital (Peak XV Partners), Ribbit Capital, and even Microsoft CEO Satya Nadella, who invested personally.

[Credits for header image: TechCrunch
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