New IPO 2025: Online Broker Groww Files Confidential IPO Papers With SEBI
Last Updated:
Groww IPO: Groww plans to list its equity shares (face value Rs 2 each) on NSE and BSE's main boards.
Groww IPO: The online brokerage firm Groww is reportedly filed confidential IPO papers with the market regulator SEBI on Monday. The company seeks comments from SEBI on IPO without disclosing its IPO documents to the public. The process is now at pre-filing mechanism before submitting DRHP (Draft Red Herring Prospectus) later.
Groww's parent entity Billonbrains Garage Ventures Limited said in a public notice on Monday that the DRHP was submitted under Chapter IA of the SEBI ICDR Regulations.
Earlier, MoneyControl reported that Groww is simultaneously looking to raise about $150 million (Rs 1272 crore). The valuation of Groww will likely increase to $7 billion post-money valuation.
MoneyControl reported that the issue size could be in the range of $700-800 million (Rs 5942-6791 crore), given IPO valuation of $7-8 billion amid the market sentiment and volatility.
Groww plans to list its equity shares (face value Rs 2 each) on NSE and BSE's main boards.
Its consolidated operational profit increased by 17 percent to Rs 535 crore for the year ending March 2024, compared to Rs 458 crore reported the previous year. The consolidated revenue for FY23 was Rs 1,435 crore.
Founded in 2017, Groww was started as a direct mutual fund distributor platform by four ex-Flipkart employees – Lalit Keshre, Harsh Jain, Ishan Bansal and Neeraj Singh.
Following user demand, Groww added stocks in the early half of 2020 and the same year launched digital gold, ETFs, Intraday trading, IPOs in quick succession.
Today, Groww is the largest stock broker based on active clients. As of March 2025, its total subscriber base is at 13.03 million (1.3 crore).
Its competitor Angel One brought its IPO in September 2020, at the price band of Rs 305 to Rs 306 per share. The company raised Rs 600 crore via IPO. Angel One IPO bidding started from September 22, 2020 and ended on September 24, 2020. The allotment for Angel One IPO was finalized on Tuesday, September 29, 2020. The shares got listed on BSE, NSE on October 5, 2020. While Zerodha isn't a listed entity.
First Published:
May 26, 2025, 11:39 IST
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
20 minutes ago
- Time of India
Arisinfra Solutions IPO subscribed 2.65 times
NEW DELHI: The initial share sale of Arisinfra Solutions subscribed 2.65 times on the closing day of bidding on Friday. The nearly Rs 500-crore initial public offer (IPO) received bids for 3,46,63,388 shares against 1,30,84,656 shares on offer, as per NSE data. The portion for retail individual investors (RIIs) attracted 5.59 times subscriptions while the category for non-institutional investors subscribed 3.14 times. The quota for qualified institutional buyers (QIBs) received 1.42 times the subscription. ArisInfra Solutions Ltd on Tuesday said it has garnered Rs 225 crore from anchor investors. The price band for the offer has been fixed at Rs 210-222 per share. The IPO is a completely fresh issue of equity shares worth Rs 499.6 crore with no offer for sale (OFS) component. At the upper end of the price band, the company is valued at nearly Rs 1,800 crore. Proceeds of the issue will be used for funding the working capital requirements of the company, investment in the subsidiary Buildmex-Infra for funding its working capital, purchase of partial shareholding from existing shareholders of its subsidiary, ArisUnitern Re Solutions Pvt Ltd, repayment of loan and for general corporate purposes. Arisinfra Solutions is a B2B technology-enabled company, focusing on simplifying and digitising the procurement process for construction materials. JM Financial , IIFL Capital Services and Nuvama Wealth Management are the book-running lead managers to the issue.
Indian Express
21 minutes ago
- Indian Express
China's solar grip tightens — Cell imports more than double; module imports barely dip despite curbs
India's imports of solar photovoltaic (PV) cells from China — for assembly into modules or panels — jumped 141 per cent, from around 1.89 billion units in 2023-24 (FY24) to 4.55 billion in FY25, official trade data shows. Imports of PV cells assembled into modules dipped only 2 per cent, from 35.98 million to 35.26 million panels, despite the Approved List of Models and Manufacturers (ALMM) order restricting the use of imported modules in most utility-scale and rooftop solar projects from April 1, 2024. India's solar module manufacturing capacity has surged from 38 gigawatt (GW) in March 2024 to 91 GW now, the Ministry of New and Renewable Energy (MNRE) told The Indian Express. 'The increase in domestic solar PV module manufacturing capacity seems to have contributed to increase in import of solar PV cells,' the ministry said. While India's solar cell manufacturing capacity has also grown — from 9 GW in March 2024 to 25 GW now — it still falls short of meeting the total demand for modules. The MNRE, which reimposed the ALMM order in FY25 after keeping it in abeyance during FY24, added that 'several exemptions' exist under the order. These include projects where the last bid submission date was before April 10, 2021, certain net metering projects applied for before October 2022, behind-the-meter captive projects, and solar installations for the production of export-oriented green hydrogen. 'Despite ALMM being in force, these exemptions seem to be the reason for continued import of solar PV modules,' the ministry said. In a letter dated March 3, 2025, the MNRE asked state governments to strictly enforce the ALMM order for solar PV modules, except in cases where projects qualify for exemptions listed above or have been specifically exempted by the ministry or an authorised agency. Overall, solar cell imports rose 88 per cent — from 2.69 billion units worth Rs 15,335 crore in FY24 to 5.06 billion units worth Rs 13,905 crore in FY25 — as China's share increased from 70 to 90 per cent. Module imports, meanwhile, fell 15 per cent, from 48.48 million panels (Rs 36,134 crore) to 40.99 million (Rs 18,263 crore). Domestic cell capacity expected to surge Typically, solar cells are manufactured using wafers made from polysilicon ingots. By 2030, India aims to ramp up its solar cell manufacturing capacity to 100 GW and wafer capacity to 40 GW — a steep rise from the current 2 GW. Amit Paithankar, chief executive officer at Waaree Energies Ltd, India's largest solar module manufacturer, said there will be 'a substantial growth in cell capacity' in the coming years. 'Module manufacturing has taken off because ALMM for modules was introduced earlier and has been steadily enforced. ALMM for cells is also coming next year – that is the stated policy. So, in a very steadfast manner, cell production will keep increasing and the import content of cells will keep going down,' he told The Indian Express. The ALMM order for solar PV cells will take effect from June 1, 2026. 'When you put ALMM for modules, there's a wave — massive capacity gets set up in 2-2.5 years. Then, with ALMM for cells, too, you'll see a wave. There will always be a time shift. When there's an ALMM for ingots and wafers, you'll see a similar wave happen,' Paithankar added. A key challenge to scaling up domestic cell manufacturing, however, is sustained price dumping from China. While cell imports from China rose 141 per cent in quantity between FY24 and FY25, their value increased only 34 per cent — indicating a sharp fall in per-unit prices. The Directorate General of Trade Remedies (DGTR), India's trade watchdog, is currently investigating an anti-dumping case on Chinese solar cell imports. Sujoy Ghosh, managing director of First Solar India, which along with other manufacturers initiated the DGTR investigation, said, 'Multiple governments have found evidence of Chinese companies using anti-competitive measures, including dumping, to decimate international competition. Our view is that dumping, whether from China or through its Belt and Road Initiative partners in Southeast Asia, undermines India's goal of securing its energy technology supply chains, and must be investigated and firmly addressed.' 'The consequences of China's systemic overcapacity are plain to see from the financials of the largest Chinese solar manufacturers. Moreover, their financial results also appear to reflect the practice of selling products at prices below their cost of production,' he added. In recent quarters, several Chinese solar companies have reported heavy losses amid industry overcapacity and softening demand. Government and industry sources say another challenge in fully integrating the polysilicon-to-cell value chain is China's dominance in wafer-making equipment, which remains restricted for export to India. Sumant Sinha, chief executive of ReNew, said a solution is possible through a 'G2G (government-to-government) conversation' and that it is 'impractical' to make the equipment in India as of now. Paithankar said there is strong collaboration between various companies in India, China, and elsewhere when it comes to equipment. 'While we have good relationships with companies in China, we're also constantly looking at how to diversify that part of the supply chain,' he added. As an example of efforts to look beyond China, Vinay Rustagi, chief business officer at Premier Energies Ltd, said the company is setting up a 2 GW wafer manufacturing plant through a joint venture with Taiwan's SAS, among the world's largest silicon wafer manufacturers. Some manufacturers are using alternative technologies. 'First Solar doesn't rely on the crystalline silicon ecosystem that is currently monopolized in China, and we have invested in creating our own manufacturing ecosystem over the past 25 years… As a matter of fact, it took us just 19 months to build 3.3 gigawatts of vertically integrated nameplate manufacturing capacity,' Ghosh said. The Arizona-headquartered company, which operates a plant in Chennai, manufactures CdTe thin-film PV modules using a differentiated semiconductor and production process. 'Our advanced, highly differentiated manufacturing process allows us to transform a sheet of glass into ready-to-ship thin film solar panels in approximately four hours,' Ghosh said. Aggam Walia is a Correspondent at The Indian Express, reporting on power, renewables, and mining. His work unpacks intricate ties between corporations, government, and policy, often relying on documents sourced via the RTI Act. Off the beat, he enjoys running through Delhi's parks and forests, walking to places, and cooking pasta. ... Read More
Mint
21 minutes ago
- Mint
Dividend Stocks: Hindustan Unilever, Cipla, Vedanta, among others to trade ex-dividend next week; Full list
Dividend Stocks: Shares of major firms, including Hindustan Unilever, Polycab India, Vedanta, HDFC Bank, Kansai Nerolac Paints, Bajaj Finserv, CARE Ratings, Cipla and Aegis Logistics, are among others that will trade ex-dividend in the week starting Monday, 23 June 2025. The ex-dividend date is when the equity share price adjusts to reflect the next dividend payout. This day, the stock becomes ex-dividend, which means it does not carry the value of its next dividend payment from that day forward. The dividend issue will be payable to all the shareholders whose names appear on the company's list by the end of the record date. According to BSE data, many companies also announced other corporate actions, including a bonus issue. Dalmia Bharat Ltd will declare a final dividend of ₹ 5 per share on Monday, 23 June 2025. Dynamic Cables Ltd will declare a final dividend of ₹ 0.5 per share on Monday, 23 June 2025. G N A Axles Ltd will declare a dividend of ₹ 3 per share on Monday, 23 June 2025. Hindustan Unilever Ltd will declare a final dividend of ₹ 24 per share on Monday, 23 June 2025. Kansai Nerolac Paints Ltd will declare a final dividend of ₹ 2.5 per share on Monday, 23 June 2025. Kansai Nerolac Paints Ltd will declare a special dividend of ₹ 1.25 per share on Monday, 23 June 2025. Kalpataru Projects International Ltd will declare a final dividend of ₹ 9 per share on Monday, 23 June 2025. Samvardhana Motherson International Ltd will declare a final dividend of ₹ 0.35 per share on Monday, 23 June 2025. Motherson Sumi Wiring India Ltd will declare a final dividend of ₹ 0.35 per share on Monday, 23 June 2025. Pilani Investment and Industries Corporation Ltd will declare a final dividend of ₹ 15 per share on Monday, 23 June 2025. Alkyl Amines Chemicals Ltd will declare a final dividend of ₹ 10 per share on Tuesday, 24 June 2025. Polycab India Ltd will declare a final dividend of ₹ 35 per share on Tuesday, 24 June 2025. Vedanta Ltd will declare an interim dividend of ₹ 7 per share on Tuesday, 24 June 2025. Automobile Corporation of Goa Ltd will declare a final dividend of ₹ 20 per share on Wednesday, 25 June 2025. Aegis Logistics Ltd will declare an interim dividend of ₹ 2 per share on Wednesday, 25 June 2025. Quest Capital Markets Ltd will declare a final dividend of ₹ 2.5 per share on Wednesday, 25 June 2025. Enbee Trade & Finance Ltd will declare an interim dividend of ₹ 0.01 per share on Thursday, 26 June 2025. Prime Securities Ltd will declare an interim dividend of ₹ 1.5 per share on Thursday, 26 June 2025. Allied Blenders and Distillers Ltd will declare a final dividend of ₹ 3.6 per share on Friday, 27 June 2025. Alufluoride Ltd will declare a final dividend of ₹ 3 per share on Friday, 27 June 2025. Bajaj Finserv Ltd will declare a final dividend of ₹ 1 per share on Friday, 27 June 2025. Bajaj Holdings & Investment Ltd will declare a final dividend of ₹ 28 per share on Friday, 27 June 2025. Bharat Bhushan Finance & Commodity Brokers Ltd will declare a final dividend of ₹ 0.6 per share on Friday, 27 June 2025. CARE Ratings Ltd will declare a final dividend of ₹ 11 per share on Friday, 27 June 2025. Cipla Ltd will declare a special dividend of ₹ 3 per share on Friday, 27 June 2025. Cipla Ltd will declare a final dividend of ₹ 13 per share on Friday, 27 June 2025. HDFC Bank Ltd will declare a dividend of ₹ 22 per share on Friday, 27 June 2025. Jayant Agro Organics Ltd will declare a dividend of ₹ 2.5 per share on Friday, 27 June 2025. Maharashtra Scooters Ltd will declare a special dividend of ₹ 30 per share on Friday, 27 June 2025. Maharashtra Scooters Ltd will declare a final dividend of ₹ 30 per share on Friday, 27 June 2025. Rainbow Children's Medicare Ltd will declare a final dividend of ₹ 3 per share on Friday, 27 June 2025. RPG Life Sciences Ltd will declare a special dividend of ₹ 4 per share on Friday, 27 June 2025. RPG Life Sciences Ltd will declare a final dividend of ₹ 20 per share on Friday, 27 June 2025. Sky Industries Ltd will declare a final dividend of ₹ 1 per share on Friday, 27 June 2025. Swaraj Engines Ltd will declare a final dividend of ₹ 104.5 per share on Friday, 27 June 2025. Syngene International Ltd will declare a final dividend of ₹ 1.25 per share on Friday, 27 June 2025. Vaibhav Global Ltd will declare a final dividend of ₹ 1.5 per share on Friday, 27 June 2025. Visaka Industries Ltd will declare a final dividend of ₹ 0.5 per share on Friday, 27 June 2025. Welspun Living Ltd will declare a final dividend of ₹ 1.7 per share on Friday, 27 June 2025. V-Mart Retail Ltd declared a bonus issue of shares at a ratio of 3:1. Shares will trade ex-bonus on Monday, 23 June 2025. Investment & Precision Castings Ltd declared a bonus issue of shares at a ratio of 1:1. Shares will trade ex-bonus on Friday, 27 June 2025. A bonus issue is a corporate action that allows existing shareholders to subscribe for additional shares. Instead of increasing the dividend payout, companies offer to distribute additional shares to the shareholders. For example, the company may give out one bonus share for every ten shares held. Laddu Gopal Online Services Ltd will undergo a stock split from ₹ 10 to ₹ 2. Shares will trade ex-split on Tuesday, 24 June 2025. Elitecon International Ltd will undergo a stock split from ₹ 10 to ₹ 1. Shares will trade ex-split on Wednesday, 25 June 2025. Padam Cotton Yarns Ltd will undergo a stock split from ₹ 10 to ₹ 1. Shares will trade ex-split on Friday, 27 June 2025. A stock split is a corporate action that occurs when a company issues additional shares to shareholders to boost liquidity. The total number of shares issued is increased by a specified ratio based on previously held shares. However, if the number of shares outstanding increases by a specific multiple, the total value (in rupees) of all shares outstanding remains the same because a split does not change the company's value. Most common split ratios are 2-for-1 or 3-for-1 (marked as 2:1 or 3:1). For every share held before the split, each stockholder will have two or three shares, respectively, after the split. Infibeam Avenues Ltd: Right Issue of Equity Shares on Thursday, 26 June 2025. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
