Groww’s Future Plans: IPO Hints and Headquarters Shift to India
Groww, a popular online trading platform, is considering going public, as hinted by its Co-founder and CEO, Lalit Keshre, at the NDTV World Summit 2024 in New Delhi. While Keshre did not provide a specific timeline, he mentioned that the IPO is “somewhere down the line.” This move aligns with the growing trend of companies going public in India, driven by the country’s booming IPO market and economic growth.
Recently, Groww relocated its headquarters from the US to India. Keshre explained that since Groww is an Indian company with its customers, management, and operations based in India, it made sense to have its headquarters in the country. He acknowledged that while there might be short-term costs, the long-term benefits are significant.
Groww was founded in 2016, inspired by Keshre’s passion for investing, which began during his college days in Mumbai. He and his co-founders saw an opportunity to leverage technology to make a significant impact on investors in India.
Regarding derivatives trading, Keshre noted that 15-20% of Groww’s customers engage in this activity. He emphasized the importance of aligning with regulatory measures to protect retail investors, especially in light of recent SEBI norms aimed at strengthening the derivatives framework. A SEBI study revealed that a significant number of individual traders in the equity futures and options segment incur losses, prompting new measures to be implemented starting November 20.
Doubts Revealed
Groww -: Groww is an online platform where people can buy and sell stocks and other financial products. It helps people invest their money in different ways.
IPO -: IPO stands for Initial Public Offering. It is when a company sells its shares to the public for the first time to raise money.
Headquarters -: Headquarters is the main office or center of operations for a company. Groww moved its main office from the US to India.
CEO -: CEO stands for Chief Executive Officer. This person is the highest-ranking person in a company and makes important decisions. Lalit Keshre is the CEO of Groww.
NDTV World Summit 2024 -: NDTV World Summit 2024 is an event where leaders and experts discuss important topics. It is organized by NDTV, a popular news channel in India.
Derivatives trading -: Derivatives trading involves buying and selling financial contracts whose value is based on other assets like stocks or commodities. It can be complex and risky.
SEBI -: SEBI stands for Securities and Exchange Board of India. It is the organization that regulates the stock market and protects investors in India.
Retail investors -: Retail investors are regular people who buy and sell stocks or other financial products, not professional or institutional investors.
