Abu Dhabi, Norway, and Singapore Funds Invest in Groww’s $754 Million IPO
Three of the world’s biggest sovereign wealth funds — Abu Dhabi Investment Authority (ADIA), Norway’s Norges Bank Investment Management (NBIM), and Singapore’s GIC — are investing in the initial public offering (IPO) of Groww’s parent company, Billionbrains Garage Ventures.
Groww’s Big IPO
Groww, a leading Indian online stock brokerage, is raising $754 million (INR 66.3 billion) through its IPO. The offer opened on Monday for large institutional investors known as anchor investors, according to a report by Reuters.
The company has set its share price range between INR 95 ($1.07) and INR 100 ($1.13) per share. This values the Bengaluru-based company at about $7 billion at the upper end of the price range. The IPO will open for all investors on Tuesday and will close on November 7.
Strong Institutional Demand
The anchor portion of the IPO is expected to raise around $335.6 million (INR 29.5 billion), with shares being sold at the top end of the price band. Around 40 institutional investors — including Indian banks, mutual funds, and global investment funds — are expected to take part in this anchor round.
This makes Groww’s IPO one of India’s biggest in 2025, following large listings by Tata Capital, LG Electronics India, and HDB Financial. The year has already seen record fundraising activity in India’s primary market.
Shareholders and New Issue
Existing investors like Tiger Global and Peak XV Partners (formerly Sequoia India) will sell a total of 557.2 million shares in the IPO. This is slightly lower than the 574.2 million shares they planned to sell earlier in September.
Groww will also issue new shares worth $120.6 million (INR 10.6 billion) to raise fresh capital for its growth plans.
About Groww
Groww has become one of India’s top online investment platforms, competing with Zerodha and Angel One in the fast-growing retail investing space. As of June 30, 2025, Groww had 14.4 million active users. The company offers trading in stocks, mutual funds, and other investment products through its mobile and web platforms.
ADIA’s Continued Interest in India
The Abu Dhabi Investment Authority (ADIA) is one of the world’s largest sovereign wealth funds, managing nearly $1 trillion in assets globally. ADIA has been steadily increasing its investments in India.
In April 2025, ADIA invested about $315 million (INR 26.2 billion) in IDFC FIRST Bank through one of its subsidiaries, Platinum Invictus B 2025 RSC. This investment was part of a broader capital infusion plan and involved convertible shares, which will give ADIA a 5.1% stake in the bank once converted.
Global Confidence in India’s Growth
The participation of global funds like ADIA, NBIM, and GIC in Groww’s IPO highlights the strong global confidence in India’s financial sector and its expanding retail investment market. With India emerging as one of the world’s most dynamic economies, such investments underline the growing international interest in the country’s digital finance ecosystem.
Published: 4th November 2025
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