GROWW ESOPS
Apple CEO Tim Cook steps down; HCLTech Q4 report
After 15 years at the helm of Apple, Tim Cook will step down to make way for insider John Ternus. This and more in today's ETtech Top 5.
Groww grants Esops worth around Rs 51 crore after strong Q4 results
Fintech firm Groww has issued 24.32 lakh employee stock options valued at approximately Rs 51 crore. This follows the company's strong Q4 FY26 results, which showed an 87% revenue increase and more than doubled net profit. Groww is also focusing on AI for product development with a lean team.
Razorpay set for confidential IPO filing; valuation may fall to around $5 billion
The fintech startup, last valued at $7.5 billion, is expected to be questioned on growth sustainability and the road to profitability; Walmart-backed PhonePe paused its $1.3 billion IPO last month, citing West Asia conflict.
Dhan in talks to acquire Elevation Capital-backed Infinyte Club in cash and equity deal
Founded in 2023 by Ankita Tandon and Joylita Saldanha, Infinyte Club offers wealth management tools targeted at startup employees and operators, including access to private market investment opportunities and liquidity for employee stock ownership plans (Esops).
Startup Mafia 3.0: Razorpay, Cred, Meesho help spawn 200+ founders
India’s new-generation startups are creating a fresh wave of founders, with executives from 111 firms launching over 200 new companies. Razorpay, Cred, Meesho and PhonePe lead in producing entrepreneurs. Wider investor support and Esops among others, are fuelling this ‘startup mafia 3.0’ ecosystem.
Earnings roundup: Infosys, Licious and Groww
IT major Infosys was hit by a small profit dip despite revenue growth in Q3. This and more in today's ETtech Top 5.
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Esop tax relief may widen; New-age startup IPO pipeline swells
Happy Tuesday! The government is mulling extension of the tax deferral on Esops to all startups. This and more in today’s ETtech Morning Dispatch.
Classification of public data; Groww’s journey to IPO
Happy Wednesday! The government is mulling a classification system for non-personal data. This and more in today's ETtech Morning Dispatch.
Groww IPO: Nithin Kamath, Aloke Bajpai, Ritesh Banglani debate profits, IPOs, & cash burn
Zerodha CEO Nithin Kamath posted on X that India’s tax system influences how startups grow, often encouraging them to focus on fast expansion instead of profits. However, Ixigo chairman Aloke Bajpai disagreed with some of Kamath’s contentions. Meanwhile, Ritesh Banglani, partner, Stellaris Venture Partners, also disagreed with Kamath. He said venture capital isn’t designed as a way to avoid taxes.
Sequoia Capital US may join Groww’s anchor book ahead of IPO
Sequoia Capital US is likely to join the anchor investor book of online investment platform Groww, making it the Silicon Valley venture capital firm’s first direct investment in India after its exit from the country two years ago.
Groww IPO: Can it win over long-term investors despite market and regulatory challenges?
Groww, a leading online investment platform, is set to launch its IPO, aiming to raise over ₹6,600 crore. Funds will bolster subsidiaries, enhance cloud infrastructure, and support brand building. The company boasts strong user growth and a young demographic, positioning it for future wealth creation.
Groww raises Rs 2,985 crore from investors ahead of IPO, sovereign funds, SBI MF join anchor book
Groww’s Rs 6,632-crore initial public offering comprises a fresh issue of Rs 1,060 crore and an offer for sale (OFS) of 557 million shares by existing shareholders. The price band has been fixed at Rs 95–100 per share. The firm is targeting to go public at a valuation of $7 billion.
Pine Labs CEO interview; Groww's anchor book subscribers
Happy Tuesday! Pine Labs has priced its IPO to attract more merchant investors, CEO Amrish Rau told us. This and more in today’s ETtech Morning Dispatch.
Pine Labs' IPO calculus; Sequoia's India return
Pine Labs CEO Amrish Rau told us about the company's upcoming IPO, its pricing and growth plans. This and more in today's ETtech Top 5.
Pine Labs IPO could unlock Esops worth Rs 1,360 crore
A large chunk of an Esop pool is typically cornered by the key managerial personnel in a company. Amrish Rau, chief executive officer, Pine Labs, had been granted 23 million stock options as of June 2025.
Groww CEO interview; Swiggy, Google results
Groww CEO Lalit Keshre talked about the company's upcoming IPO. This and more in today's ETtech Top 5.
Esop windfall: Groww IPO to unlock employee wealth worth Rs 2,500 crore
Groww's upcoming IPO is set to unlock significant employee wealth. The online investment platform aims for an $8 billion valuation. The IPO opens on November 4 and closes on November 7. Groww, India's largest stockbroking platform by active clients, seeks to raise Rs 7,000 crore.
ETSA 2025's star speakers; Swiggy mulls $1.5 billion QIP
Happy Thursday! A star-studded lineup of speakers will attend the 11th edition of the Economic Times Startup Awards this Friday. This and more in today's ETtech Morning Dispatch.
Groww founders boost stakes ahead of November IPO
Regulatory filings seen by ET show the four cofounders of Billionbrains Garage Ventures, Groww’s parent entity, increased their combined stake to 29.01% on a paid-up basis as on June 30, having raised it to 27.93% in 2024-25 from 23.89% in the previous financial year.
Lenskart secures shareholder nod to raise Rs 2,150 crore via IPO
Lenskart's shareholders have approved plans for an IPO aiming to raise Rs 2,150 crore. The company is expected to file its DRHP with Sebi soon, joining other new-age firms seeking public funding. Shareholders also approved a new Esop 2025, and the company reported a 43% increase in operating revenue for FY24, with narrowed losses.
Top tech and startup stories this week
Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.
China's rare earth curbs hit India; Groww eyes bonds
China's rare earth export controls are concerning Indian electronics manufacturers. This and more in today’s ETtech Top 5.
Bike taxis slam brakes in K’taka; Meesho’s flipback nod
Ride-hailing apps halted bike-taxi operations in Karnataka from Monday, as the high court-imposed ban came into effect. This and more in today’s ETtech Top 5.
Exclusive: Groww’s valuation cut in domicile shift to India; Razorpay may follow
Groww paid Rs 1,340 crore ($160 million) in taxes to the US government, based on the new fair market value (FMV), which is more than 30% lower than its $3 billion valuation during its last funding in 2021, sources told ET. Razorpay, which was last valued at $7.5 billion, is working with consulting firm Deloitte on the matter.
Groww, Razorpay pay for reverse flip; Arzooo’s distress sale
Happy Thursday! Stockbroking platform Groww, had its valuation reduced as part of its flip back to India, said sources. This and more in today’s ETtech Morning Dispatch.
Zerodha to end zero-brokerage model; Unacademy lays off 250 employees
Online stock broker Zerodha will likely discontinue its zero-brokerage structure due to new Sebi rules. More on this in today’s ETtech Top 5.
Homebound startups restructure; offline push by D2C brands
Happy Wednesday! Homegrown startups are stepping on the pedal for their move back home. This and more in today's ETtech Morning Dispatch.
35 non-founders in Rs 100-crore Esop club
The growing club also indicates that Esops have gone mainstream in India and are likely to be a bigger part of employees’ pay packets in the future, top-tier founders told us.
Startups have an Esops fable to tell
As valuations zoom and buybacks rise, more employees opt for stock options
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