Groww co-founders pocket over Rs 700 Cr via incentives and secondary sales

Digital investment platform Groww’s co-founders have already secured a significant payday even before the Bengaluru-based unicorn hits the public markets. According to the company’s updated draft red herring prospectus (UDRHP), co-founders Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal collectively received a one-time incentive of Rs 614 crore in FY25, which was accrued in FY24 under a long-term incentive plan.

In addition, the four co-founders also monetised a part of their holdings through secondary share sales. On July 23, 2025, they sold a combined 1.08 crore shares to ISP VII-B Blocker GW, Ltd., an affiliate of ICONIQ Capital at Rs 96.56 per share, raking in Rs 104 crore in cash.

The payouts show that Groww’s founders have already cashed in well before the company’s Rs 7,000 crore IPO. The upcoming issue includes a fresh raise of about Rs 1,060 crore and a large secondary sale by existing investors. Though the founders are offloading only a small part of their holdings in the IPO, up to 10 lakh shares each, the filings make it clear they’ve already booked significant gains ahead of the listing.

As per the DRHP, its employee expenses also saw a sharp swing during FY24. The company disclosed that costs ballooned on account of the Rs 614 crore one-time incentive accrued for the co-founders. With no repeat of this payout in FY25, employee benefit expenses fell significantly.

Groww posted a 50% year-on-year jump in revenue to Rs 3,902 crore in FY25 from Rs 2,609 crore in FY24. The company also turned profitable, reporting Rs 1,824 crore profits versus a loss of Rs 805 crore in FY24. In Q1 FY26, Groww clocked Rs 904 crore in revenue with a profit of Rs 378 crore. The platform reported 18.07 million transacting users, including 14.38 million active clients, during the quarter.

The big payouts could raise eyebrows among investors, but the founders still hold about 22% in the company, and their shares will be under lock-in after listing, ensuring they remain firmly tied to Groww’s market journey.