India, Sept. 19 -- Groww's Massive VC Cashout

Earlier this week, Groww filed its updated DRHP for a massive INR 7,000 Cr public listing. Yet, the fine print of the draft papers reveals a sore reality - the IPO appears to be a grand exit for its early backers rather than growth capital for India's largest discount broking platform.

The Lopsided IPO: Groww's IPO allocates just INR 1,060 Cr for fresh issue, while earmarking 85% for OFS. This means that nearly INR 6,000 Cr will flow directly to existing investors, leaving minimal funds for the unicorn's tech upgrades and expansion plans.

The VC Bonanza: Early backers are positioned for spectacular returns that dwarf most VC success stories. Peak XV Partners stands to make a staggering 1,61...