IPOs in Focus: Groww, Tata Capital, and Canara Robeco AMC Prepare for Market Debut

India’s capital market is set for an active phase, with several high-profile companies preparing for their initial public offerings (IPOs). Recent updates indicate progress for Groww, Tata Capital, and Canara Robeco Asset Management Company (AMC), each targeting diverse investor segments and raising expectations of strong participation.

Groww Eyes $9 Billion Valuation in Upcoming IPO

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Wealth-tech firm Groww is preparing to file updated draft papers for its IPO, reportedly aiming for a valuation of around $9 billion. The Bengaluru-based company, which has built a large retail investor base through its digital investment platform, had earlier filed IPO documents but is now updating them to reflect improved business performance and market conditions.

The IPO will test demand for fintech listings, particularly after mixed investor sentiment in recent tech offerings. If successful, Groww’s public debut could further strengthen India’s position as a hub for digital-first financial services firms.

Tata Capital IPO: IFC to Offload Shares

The proposed Tata Capital IPO has drawn attention due to significant promoter activity. The International Finance Corporation (IFC), a long-term investor in Tata Capital, plans to partially exit by selling shares worth around ₹179 crore. The sale forms part of the offer-for-sale (OFS) component of the IPO.

For Tata Capital, one of India’s leading non-banking financial companies (NBFCs), the IPO is expected to broaden its investor base and enhance market visibility. The IFC’s partial exit reflects the natural cycle of long-term institutional investors booking returns while allowing the company to diversify its ownership.

SEBI Approves Canara Robeco AMC IPO

In another development, the Securities and Exchange Board of India (SEBI) has approved the Canara Robeco AMC IPO, allowing the asset manager to proceed within one year. The issue will be an entirely offer-for-sale (OFS) of 4.98 crore shares by promoters.

ORIX Corporation Europe NV, which owns 49% of the AMC, will sell 2.39 crore shares, while Canara Bank, which holds 51%, will sell 2.59 crore shares.  Established in 1993 and relaunched in 2007 following the arrival of ORIX, Canara Robeco AMC is the second-oldest asset manager in India and holds a prominent position in the mutual fund sector.

Conclusion

The forthcoming initial public offerings (IPOs) of Groww, Tata Capital, and Canara Robeco AMC demonstrate the variety of India's capital markets, which include asset management, NBFCs, and fintech.  Canara Robeco AMC proceeds with a promoter-led share sale, Tata Capital is ready for further retail involvement, and Groww seeks to leverage its digital-first strategy.  It is anticipated that when combined, these offerings would test market appetite and attract interest from both institutional and individual investors.