Groww, India’s largest retail brokerage platform, is preparing for a landmark multi-billion-dollar IPO later this year, becoming the first Indian startup to list domestically after shifting its headquarters from Delaware back to India. The Bengaluru-based company, valued at approximately $9 billion, aims to raise ₹10.6 billion ($121 million) in primary capital while also facilitating a large secondary share sale by global investors including Y Combinator, Ribbit Capital, and Tiger Global.

The IPO highlights a broader trend of Indian startups choosing local markets over overseas listings, tapping into growing retail investor participation and supportive regulatory reforms.

Groww’s founders—Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal—will offload only a small portion of their holdings, underscoring their long-term confidence in the company’s future. Meanwhile, global investors are set to partially exit, capitalizing on India’s surging equity market momentum.

With more than 37 million digital securities accounts and 12.6 million active NSE clients, Groww has cemented its position as the market leader among investment apps, surpassing 100 million cumulative downloads.

The IPO is expected to not only boost Groww’s growth trajectory but also set the tone for future domestic listings in India’s evolving startup ecosystem