IPO-bound Groww’s mutual fund assets reach Rs 2,000 crore in May

Groww's mutual fund business' assets under management (AUM) have risen 2.5 times in a year to almost Rs 1,940 crore in May, data disclosed by the Bengaluru-based company shows.

AUM was around Rs 789 crore in May 2024. Groww Asset Management Company manages Groww Mutual Fund, a direct fund with multiple offerings.

Groww Invest Tech Private Ltd in May filed confidentially for an initial public offering (IPO) with the markets regulator Sebi in May.

The company, the largest broker in the country by active investors, also raised $200 million from Iconiq Capital and GIC at a $7 billion valuation.

Groww Nifty Index and Groww Liquid funds are among the most popular of the company’s fund offerings. The wealthtech company also acts as a distributor for third-party mutual funds.