Groww, backed by Satya Nadella, set to become first Indian startup to go public after U.S.-to-India move

Grotw, the largest mediation company in India, is scheduled to test the country’s public markets with billions of dollars in public subscription. The list comes shortly after more than a year after the company restructuring the company’s main headquarters from Delaware to India – a step that can make it the first Indian startup at home after a transfer from the United States

With the support of investors, CEO of Microsoft Satya Nadella and Marquee investors, including Y Combinator, Ripbit Capital, and Tiger Global, is expected later this year – is scheduled to double as a major exit opportunity for global project funds. The three investment companies drop about 236 million shares – about 5.6 % of the total stock base in GROTW – according to public subscription documents provided on Tuesday. This makes them the largest individual selling block, representing about 41 % of all shares offered to the public.

Pine Labs, Razorpay, Meesho and Zepto are among the Indian startups that recently turned their base. Walmart, backed by Walmart, moved its main headquarters from Singapore to India in 2022, while Flipkart-once her mother and her support for Walmart also announced her plans to transfer her headquarters from Singapore to India earlier this year.

Last year, Grotw became one of the first startups to turn to India from the United States, where the startup company paid about $ 159 million as taxes as part of this step.

The transfer of their base to the homeland helps start startups to comply with advanced local regulations and meet the requirements of local stock lists. It is also logical to take advantage of the public markets in India, due to the dilated retail investor base and the appetite for high subscriptions. The trend reflects the increasing maturity and the attractiveness of capital markets in India compared to external alternatives.

While American investors plan to empty a large part of their property in Grumw, the founders of Lalit Keshre, Harsh Jain, Neeraj Singh and ISHAN Bansal together sell only about 4 million shares – only 0.7 % of the total offer for sale, according to the version project.

Small sales that Grumw founders have almost all their shares, unlike well -known investors who use public subscription as an exit road.

GOWW plans to raise $ 10.6 billion (about 121 million dollars) in a new financing from public subscription, in addition to the secondary sale of 574 million shares by current shareholders, which is expected to reach 5-6 billion dollars (approximately 568 – 682 million dollars). The public subscription is expected to estimate the company that is based in Bangaluru for $ 9 billion.

In the fiscal year ending on March 31, GROTW reported a total income of 40.6 billion dollars (about 462 million dollars), an increase of 45 % year on year, with profit after a tax of $ 18.2 billion (about 208 million dollars). The startup recorded a net loss of about 8 billion dollars (about 92 million dollars) in the previous year, due primarily to the expenses related to the transportation of the Delaware headquarters.

As of June, GRETW had about 37.4 million individual Demat accounts (digital accounts with electronically), which represents approximately 19 % of the India market, along with 12.6 million active agents on the National Stock Exchange, equal to 26 %. The platform also calculated about 17 million active systematic investment plans (SIPS, which is repeated monthly investments) and 9 million unique investments from investment funds, to become the only investment application in the country that exceeds 100 million cumulative downloads.

Advice to this offer is presented by JPMorgan Chase, Kotak Mahindra, Citigroup, Axis Bank and Motilal Oswal Investment Adviss.