Fintech

Groww’s $8 billion IPO puts fintech valuations to the test

Nikhil Patwardhan

September 16, 2025 | 10 Min Read

India’s fintech unicorns are lining up for IPOs, but unlike Groww—which seemingly has grown into its valuation—many will face the hard reality of rerating unless they quickly prove their growth and profitability stories.

By Wednesday, Groww is likely to file its revised draft red herring prospectus (DRHP), moving a step closer to what will be one of India’s most keenly watched public listings.

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