Groww's parent company Billionbrains Garage Ventures eyes ₹6,500 crore IPO this year: Report

Billionbrains Garage Ventures Pvt. Ltd, the parent company of financial services platform Groww Invest Tech Pvt. Ltd, could file for an Initial Public Offering (IPO) this year. The IPO would be to raise $750 million ( ₹6,477.95 crore) or more with Billionbrains Garage seeking a valuation of $7 billion to $8 billion ( ₹60,460.92-69,098.20 crore), though these are preliminary numbers which could vary later, according to the report.

The company has picked banks including JPMorgan Chase & Co. and Kotak Mahindra Bank Ltd to facilitate the IPO, though more banks may also be added. Groww was founded in 2016 by four Flipkart colleagues as an investing platform. It currently has more than 50 million users.