The Abu Dhabi Investment Authority (ADIA) has participated as an anchor investor in the initial public offering (IPO) of Indian stockbroker Groww.
According to Reuters, the sovereign wealth fund purchased shares worth INR 1.4 billion (USD 158 million), while Norway’s Government Pension Fund Global invested INR 1.6 billion.
Singapore’s GIC subscribed to shares valued at INR 1.4 billion, and the Monetary Authority of Singapore, the country’s central bank, committed INR 402.6 million.
Local media reported that other major anchor investors included Goldman Sachs India Equity Portfolio, Wellington, Eastspring, Amundi, MIT Endowment, and the New York State Teachers’ Retirement System.
Groww secured INR 298 trillion from 102 anchor investors, according to the Economic Times, an Indian financial daily.
The IPO price was set at INR 100 per share, the company stated in a filing with the Bombay Stock Exchange on Monday.
The public subscription period will open on Tuesday and close on 7 November. The company is targeting a valuation of INR 617 billion (USD 7 billion) upon listing on the Bombay Stock Exchange and National Stock Exchange.
Based in Bengaluru, Groww reported a consolidated user base of nearly 7 billion, including 3.6 billion active customers as of 30 June 2025. For the fiscal year ending 31 March 2025, the company posted a net profit of INR 18.24 billion with a profit margin of 45 percent.
Last month, ADIA invested in the USD 1.3 billion IPO of LG Electronics’ Indian subsidiary, whose shares debuted 50 percent above the issue price at INR 1,710 per share.
The sovereign fund also participated in the IPO of Indian electric scooter manufacturer Ather Energy, which raised USD 360 million for its expansion in April.
In July, ADIA acquired a minority stake in Indian medical devices firm Micro Life Sciences (Meril) for USD 200 million.
