Groww Mutual Fund, the AMC arm of the IPO-bound Groww, has seen a significant rise in its assets under management (AUM), which touched nearly Rs 2,000 crore as of May, a sixfold jump from the Rs 342 crore it managed when it acquired Indiabulls Asset Management Company in May 2023, according to the company’s statutory disclosure.

The sharp rise in AUM signifies Groww MF’s steady foray into asset management, even as its parent Groww (Billionbrains Garage Ventures) prepares for an initial public offering (IPO). The company had filed confidential papers with Securities and Exchange Board of India (Sebi) last month and is reportedly aiming for a valuation worth of $7 billion, backed by a recent $200 million round from Iconiq Capital and GIC.

Groww Mutual Fund, formerly Indiabulls AMC, offers a limited but focused suite of active and passive funds. With funds spanning across equity, hybrid, debt, and thematic categories, popular schemes include the Groww Nifty EV & New Age Automatic Index fund, Groww Total Market Index Fund, Groww Value Fund, Groww ELSS Tax Saver Fund, Groww Large Cap Fund, etc.

The trading and MF distribution platform Groww focusses on simplicity and education-led onboarding. Its strategy of acquiring young savers and guiding them through mutual funds before exposing them to direct equities has helped drive both stickiness and trust.

Groww reported a strong growth in earnings in FY25, with profit rising threefold year-on-year to Rs1,819 crore. Revenues touched Rs 4,056 crore, up 31% YoY, despite industry-wide pressures such as reduced exchange rebates and evolving tax norms for brokers.

The company recently announced the acquisition of wealth management platform Fisdom in a $150 million all-cash deal, signalling its ambition to deepen presence across the personal finance lifecycle - from SIPs and discount stock broking to advisory-led wealth management.

Published on: Jun 26, 2025 5:24 PM IST