Groww has fully returned at least two US funds; among best IRRs of the decade for an Indian startup: early investor Anu Hariharan

Wealthtech platform Groww is set to deliver one of the strongest investment returns seen in India’s startup ecosystem this decade, as its IPO unlocks multibagger exits for several global funds that backed it early, according to Anu Hariharan, former Y Combinator Continuity head and cofounder of Avra Capital, Groww said in a post on X. Hariharan who invested in Groww while she was at YC said that the fintech startup has “returned capital many times over,” fully returning at least two US funds and likely delivering one of the best IRRs of the decade.

Also Read: Groww IPO: We make so much money, we could keep it all — but that’s not how you build a 100-year-old company: CEO Lalit Keshre

Groww‘s stock has risen as much as 24% over the IPO price to Rs 124 on the NSE after listing on the bourses today at a premium. Its market cap currently stands at Rs 76,169.84 crore.


“Launching stocks in 2020 to IPO in 2025 is a remarkable outcome,” Hariharan said in a post on X.


Multiple investors, including Peak XV Partners (formerly Sequoia India), Ribbit Capital and Tiger Global, are expected to see among their highest returns from the Bengaluru-based company’s listing.

Groww began its stockbroking business in 2020, expanding from its initial mutual fund platform. The timing coincided with India’s retail investing surge during the pandemic, helping it grow rapidly. By September 2023, it overtook Zerodha to become India’s largest broker by active clients, with over 6.6 million users.

The company reported a net profit of Rs 1,819 crore in FY25 on revenue of Rs 3,902 crore, underscoring its rare profitability among venture-backed fintechs.

Also Read: Groww’s 10-year journey to an IPO: From mutual fund seller to stock market leader