Groww Grows Up: India’s Fintech Files for IPO 📈

PS: Yes, we know. The Groww pun was inevitable. Don’t judge us—we’re weirdly proud of it. And admit it, you chuckled a little. Now grab your chai and let’s dive in. ☕

☕ Lets Groww Up Now (heheh)! So, Good Morning, Masala Crew!

It’s Tuesday, May 27—and while your week is just picking up steam, the business world is already on a full boil. From Titan chasing Gulf gold to Groww eyeing unicorn IPO glory, and from tariff twists to startup sprints, today’s brew is as bold as your first cup of chai.

Let’s stir things up 👇

☕ Chai Shots

• 💍 Titan Eyes Damas Bling in the Gulf: Tata Group's Titan is eyeing a 72% stake in Gulf-based jeweller Damas International for about ₹2,500 crore. With 250+ stores, Damas could be Titan’s ticket to replicating its CaratLane playbook abroad. Due diligence is underway, and the deal could close by Q2 FY26.

• 📈 Groww Preps for IPO Glory: Investment platform Groww has quietly filed IPO papers and is raising $300M ahead of the listing. With over 13 million active users and a projected valuation of $7B, it's one of India’s hottest fintech stories. More in the Big Brew 👇

• ✈️ IndiGo Co-Founder to Sell ₹6,833 Cr Stake: Rakesh Gangwal plans to unload a 3.5% chunk of IndiGo through a block deal at ₹5,175/share—a 4.5% discount from last close. The move is part of his ongoing exit plan, post his 2022 board resignation.

• 🧾 Oppo and Realme Under Audit Fire: Indian auditors flagged major accounting concerns at Oppo and Realme, citing missing documentation and unreliable financials. Oppo’s India unit now has a negative net worth of ₹3,551 crore and faces multiple investigations.

• 📦 Govt Calls Out Ecommerce ‘Dark Patterns’: On May 28, India’s consumer affairs ministry will grill platforms like Amazon, Flipkart, Zomato, and others over deceptive online tricks—from hidden fees to auto-checkout nudges.

📈 Market Masala

• 📊 Markets in Chill Mode (For Now): The Sensex rose 455 points to 82,176 while Nifty reclaimed the 25,000 mark, driven by auto and IT gains. But volatility crept up with India VIX rising 4.3%—so don’t let the green fool you.

• 🚗 Tata Motors Eases the Accelerator: For the first time in 5 years, Tata Motors trimmed headcount by 3% in FY25. Top executive raises were also reined in, dropping from 15% to just 3%, mirroring sluggish sales across its portfolio.

• 🧧 RBI Eyes Rupee Globalisation: India’s central bank wants to let local banks lend in rupees to neighbours like Nepal, Bhutan, and Sri Lanka—a move to make INR a global player in regional trade.

• 🧨 Supreme Court Halts Bhushan Power Liquidation: A major pause button was hit as JSW Steel preps to file a review petition. The SC said status quo must be maintained to avoid irreversible steps while a profitable asset hangs in the balance.

• 💊 Novartis Offers Zero-Interest EMI for ₹1.2L Heart Shot: Novartis has launched an EMI plan with Pine Labs for Sybrava, its premium cholesterol drug priced at ₹1.2 lakh per dose. The move aims to boost accessibility in India, as local players like Lupin and Mankind begin marketing under their own labels.

🌍 Global Masala

• 💼 Trump Tariffs Trigger Price Hikes: Adidas, Walmart, Shein, and 7 other big brands are raising prices to absorb Trump’s sweeping tariffs. A $4.39 swimsuit from Shein now costs $8.39. No kidding.

• 🏗️ US Steel Gets Trump's Nod: Markets went wild after Trump gave what investors see as his blessing for Nippon Steel’s $14.9B acquisition of US Steel. Shares jumped 21%—and Trump’s even hosting a rally at a mill next week.

• 🚗 Volvo Cuts 3,000 Jobs: Facing global tariff threats and a cooling EV market, Volvo is trimming 15% of its office roles, mostly in Sweden, to slash costs and boost flexibility.

• 🐉 China Posts Surprise Profit Rise: Despite sky-high tariffs from the US, China’s industrial profits rose 3% in April. The trade war is real, but Beijing’s exporters are still flexing, especially in Southeast Asia.

☕ The Big Brew: Groww’s Unicorn Ambitions Get a Public Spin

India’s most-used investment app is all grown up—and ready to go public.

Groww has quietly filed for an IPO with SEBI, aiming to raise up to $1 billion. That’s not all—it's also bagged fresh funding in a pre-IPO round led by Iconiq Capital, taking its valuation to a steep $7 billion, more than double its last round in 2021.

And the growth has been staggering:

• 📊 13.2 million active users (vs. Zerodha’s 8.1M)

• 🚀 Monthly onboarding: up to 5.5 lakh new users

• 🧾 IPO size expected between $700M–$920M (10–15% equity dilution)

• 💸 Major backers: GIC, Tiger Global, Peak XV, and Ribbit Capital

The funds will fuel expansion in tech, product offerings, and market reach. And with India's retail investor base booming, Groww could be the new face of India’s public market revolution.

What does this mean?

India’s fintechs are maturing—and fast. Groww's IPO could be a bellwether moment for the entire sector, signaling that big exits (and not just big fundraises) are finally arriving for India’s startup ecosystem.

🚀 Startup Scoop

• 🧠 Khosla Ventures Dabbles in AI Roll-Ups: The VC firm is eyeing mature businesses—think call centers and accounting shops—and supercharging them with AI, creating what might be the next wave of venture–meets–private equity.

• 🐾 Drools Becomes a Unicorn: Nestlé SA picked up a minority stake in Indian pet food brand Drools, which now joins the unicorn club. The brand will remain independent, while Nestlé gets a paw in India’s booming pet care market.

• 💎 Palmonas Raises ₹55 Cr: The demi-fine jewellery startup backed by Shraddha Kapoor is now valued at ₹550 crore. Fresh funds will help expand its offline reach and enter the US, Middle East, and SEA.

• 🛒 Slikk Snags $10M for Quick Lifestyle Play: Fashion-focused quick delivery player Slikk raised $10M from Nexus Ventures and Lightspeed to launch instant returns and new categories across India.

• 🌾 Kisaan Se Kitchen Tak Bags $1.3M: The agri-commerce startup connects 5,000+ farmers to 30,000+ customers and aims to 10x revenue in 3 years. The funds will boost AI, logistics, and city-wise expansion.

🧠 Chai Break Trivia

😔 Did you know? Nearly a decade after the infamous “Dieselgate” scandal, four former Volkswagen executives were convicted of fraud in a German court on Monday.

One received over 4 years in prison for his role in rigging emissions software—a deception that cost VW over $33 billion in fines and forever tarnished the legacy of diesel in Europe. 🤯

🔭 What’s Brewing Next?

• 📆 May 28: Govt’s dark patterns meeting with ecommerce giants (Amazon, Flipkart, Meesho and more)

• 💻 May 28: Nvidia earnings—can the AI beast keep roaring?

That’s a wrap for today’s cup of Masala Chai. See you tomorrow with more spice, more scoops, and more stories. Until then, invest wisely, scroll responsibly, and keep it kadak. ☕