IPO-bound Groww Sees 3x Jump in Profit in FY25: A Sign of Indian Startup’s Growth Momentum
Groww, a popular Indian fintech startup, has witnessed a remarkable 3x jump in profit in FY25, with a revenue of ₹4,056 crore, signaling its growth momentum ahead of its initial public offering (IPO).
The Bengaluru-based startup, which is preparing to launch its IPO, had registered a profit of ₹545 crore in FY24. The company’s revenue has seen a significant 31% increase over FY24, reaching ₹4,056 crore.
Groww’s financial performance is noteworthy, especially when compared to its direct competitor, Zerodha, which clocked a revenue of ₹8,320 crore and a profit of ₹4,700 crore in FY24.
The company’s valuation has also seen a significant boost, with its Series F funding round led by the Government of Singapore Investment Corporation (GIC) and existing investor ICONIQ Capital, valuing the company at $7 billion.
Groww’s IPO is expected to raise between $700 million and $1 billion, with JPMorgan Chase & Co. and Kotak Mahindra Bank Ltd as its bankers.
In the run-up to its IPO, Groww has signed a definitive agreement to acquire wealth-tech startup Fisdom in an all-cash deal for around $150 million.
Groww’s growth momentum is a testament to the Indian startup ecosystem’s potential for growth and innovation. The company’s financial performance and valuation make it an attractive investment opportunity for institutional investors and individual investors alike.
As Groww prepares to make its public debut, investors and analysts will be closely watching its IPO performance to gauge the company’s potential for future growth.
