October 31, 2025

Hold tight, stock lovers! Groww, the Bengaluru-based stock trading and wealth-tech star, is gearing up for a dazzling debut on the stock market this November. CEO and cofounder Lalit Keshre explains why going public is not just about money — it’s about trust, growth, and building a company that lasts a century. "We make so much money, we could keep it all. But that’s not how you build a 100-year-old company," says Keshre in an electrifying chat with ET. Yes, Groww plans to raise a massive Rs 6,600 crore with a target valuation close to Rs 62,332 crore (around $7 billion). From its humble startup roots in 2016, backed by heavyweights like Y Combinator and Microsoft CEO Satya Nadella, Groww has climbed to become India’s largest stock broker — boasting a whopping 18 million active users! What’s the secret sauce behind this meteoric rise? Keshre spills the beans: "One is brand building. Second is to strengthen our tech infrastructure. Third is to scale up the MTF (Margin Trade Funding) book...Fourth is LAS (Loans Against Securities) for our affluent clientele." Groww isn’t just riding the stock wave. It’s turning into a multi-weapon financial platform with 12-13 products, including fast-growing Margin Trade Funding, personal loans, and even new commodities trading. Though derivatives trading is a smaller slice (around 9.8% adoption), it brings in high revenue. Interestingly, while many brokers saw revenue dips after new regulations, Groww grew its non-derivative business by 42% between FY2025 and FY2026. The company’s fresh IPO move aims to boost its tech muscle and scale its lending options while building a public brand that customers can trust. Keshre champions accountability: "If you are managing money for millions, you should be accountable to the public. That’s how it is the world over. Your customers become your shareholders." Also, Groww’s reach is truly vast — covering 98% of India’s PIN codes! The highest growth comes from places like Uttar Pradesh, Haryana, and the north-east, showing India’s small towns are joining the financial party. Women investors make up a solid 23% of users, one of the highest in the sector. From acquisitions to product plans, Keshre keeps Groww on the fast track. Lending remains a small but growing part, mainly via a separate app. The rich customer base, about 3 lakh affluent users, is growing nearly twice as fast as the overall platform — a goldmine for future growth. To sum up? Groww’s IPO is a spicy mix of ambitious expansion, deep tech, financial inclusivity, and a bold promise to keep playing in India’s financial markets for a century or more. Buckle up, investors, a new giant is ready to roar on the public stage!

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Tags: Groww ipo, Stock trading, Lalit keshre, Financial services, Margin trade funding, Wealth management,