Core Insights - Groww's IPO is the largest listing by an Indian fintech in 2023, raising ₹66.3 billion (approximately $748 million) with shares closing 29% higher than the issue price [1] - The company's shares opened at ₹112, 12% above the issue price of ₹100, and closed at ₹128.85, resulting in a market capitalization of ₹795 billion (around $9 billion) [1] Company Overview - Founded in 2016 by former Flipkart employees, Groww has capitalized on India's retail investing boom, attracting notable investors such as Microsoft CEO Satya Nadella and Tiger Global [3] - The platform targets first-time investors and competes with other brokerage firms like Zerodha and Angel One [3] User Base and Services - As of June, Groww had over 14 million active users and more than 12.6 million active NSE clients [4] - While stockbroking is its core business, Groww has expanded into lending, payments, asset management, and insurance brokerage, although these segments are smaller compared to brokerage revenues [4] Financial Performance - For the financial year ending March 2025, Groww reported revenue of ₹39 billion ($440 million) and a net profit of ₹18 billion ($206 million) [5] - The IPO was subscribed nearly 18 times, driven by strong institutional demand, and the company raised about ₹30 billion from anchor investors in a pre-IPO placement [5] Market Context - Groww's listing is part of a broader resurgence in Indian startup IPOs, with other companies like Lenskart and Pine Labs also making market entries [2] - Venture investors have expressed optimism about Groww's market debut, highlighting its potential for high returns [7]