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Groww, backed by Satya Nadella, set to become first Indian startup to go public after U.S.-to-India move | TechCrunch

Groww, backed by Satya Nadella, set to become first Indian startup to go public after U.S.-to-India move | TechCrunch

Groww, India’s largest retail brokerage firm, is set to test the country’s public markets with a multi-billion-dollar IPO. The listing comes comes just over a year after the company restructured its corporate headquarters from Delaware back to India — a move that could make it the first Indian startup to list at home following a relocation from the U.S.

Backed by Microsoft CEO Satya Nadella and marquee investors including Peak XV Partners, Y Combinator, Ribbit Capital, and Tiger Global, Groww’s listing — expected later this year — is set to double as a major exit opportunity for global venture funds. The four investment firms are offloading about 394 million shares — roughly 9.4% of Groww’s total equity base — per the draft IPO documents filed on Tuesday. That makes them the single largest selling bloc, accounting for about 69% of all shares being offered to the public.

Pine Labs, Razorpay, Meesho, and Zepto are among the Indian startups that have recently shifted their base back home. Walmart-backed PhonePe relocated its headquarters from Singapore to India in 2022, while Flipkart — once its parent and also backed by Walmart — similarly announced plans to move its headquarters from Singapore to India earlier this year.

Last year, Groww became one of the first startups to shift its headquarters back to India from the U.S. The startup paid around $159 million in taxes as part of the move.

Relocating their base back home helps startups align with evolving local regulations and meet requirements for domestic stock listings. It also makes sense to tap India’s public markets, given the expanding retail investor base and rising appetite for IPOs. The trend reflects the growing maturity and attractiveness of India’s capital markets compared to overseas alternatives.

While U.S. investors plan to offload a large chunk of their holdings in Groww, founders Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal together are selling only about 4 million shares — only 0.7% of the total offer for sale, per the draft prospectus.

The small sale signals that Groww’s founders are holding on to nearly all their equity, in contrast to the established investors who are using the IPO as an exit route.

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Groww plans to raise ₹10.6 billion (approximately $121 million) in new funding from the IPO, along with the secondary sale of 574 million shares by existing shareholders, expected to be priced at ₹5–6 billion (roughly $568–$682 million). The IPO is expected to value the Bengaluru-based company at $9 billion.

In the fiscal year ending March 31, Groww reported total income of ₹40.6 billion (about $462 million), up 45% year-on-year, with profit after tax of ₹18.2 billion (roughly $208 million). The startup had posted a net loss of about ₹8 billion (around $92 million) in the previous year, primarily due to expenses tied to its Delaware headquarters relocation.

As of June, Groww had about 37.4 million individual demat accounts (digital accounts that hold securities electronically), representing nearly 19% of India’s market, along with 12.6 million active clients on the National Stock Exchange, equal to a 26% share. The platform also counted around 17 million active systematic investment plans (SIPs, which are recurring monthly investments) and 9 million unique mutual fund investors, becoming the only investment app in the country to surpass 100 million cumulative downloads.

The offering is being advised by JPMorgan Chase, Kotak Mahindra Bank, Citigroup, Axis Bank and Motilal Oswal Investment Advisors.

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#Groww #backed #Satya #Nadella #set #Indian #startup #public #U.S.toIndia #move #TechCrunch


Earlier this week, we learned A24 entered a research partnership with Google’s DeepMind unit. The reactions were… not happy, to say the least. And like many who’ve let generative AI into their hearts, the film studio’s now left playing defense for its widely panned decision.

In a statement to Wired, A24’s communications rep Sophia Shin stressed the “research” part of its Google partnership. “We’re working side-by-side with DeepMind’s researchers to learn, iterate, and build, having an active hand in shaping new tools and workflows,” she explained. “This is about learning and helping pain points in workflows behind the scenes. […] It exists because we want to dictate what tools get built for artists, so they have a voice in shaping them rather than having tools handed to them.

While acknowledging A24 doesn’t love “any of the current AI outputs onscreen in Hollywood,” Shin considers this partnership a bit of a necessary evil. “We’d rather have a seat at the table than on the sidelines,” she stated. The promise of further artist agency and “a seat at the table” are common shields from genAI users, but it doesn’t seem to be working here. Fans consider this move ironic and a betrayal, given Backrooms director Kane Parsons recently called the tech “cultural and economic rot” and wished he could just snap it out of existence.

Before that, the studio didn’t seem to have much interest in generative AI. In 2024, it came under fire for using the tech to create posters for Civil War, while months later, its horror film Heretic had a disclaimer promising it wasn’t made with the technology. But Hollywood’s become gradually more accepting of generative AI and its supposed potential for the filmmaking process. In that sense, maybe it was inevitable for A24 to fall in line.

Want more io9 news? Check out when to expect the latest Marvel, Star Wars, and Star Trek releases, what’s next for the DC Universe on film and TV, and everything you need to know about the future of Doctor Who.

#A24 #Nice #Google #DealA24,generative ai,Google DeepMind">A24 Wants You to Be Nice About Its Google AI Deal
                Earlier this week, we learned A24 entered a research partnership with Google’s DeepMind unit. The reactions were… not happy, to say the least. And like many who’ve let generative AI into their hearts, the film studio’s now left playing defense for its widely panned decision. In a statement to Wired, A24’s communications rep Sophia Shin stressed the “research” part of its Google partnership. “We’re working side-by-side with DeepMind’s researchers to learn, iterate, and build, having an active hand in shaping new tools and workflows,” she explained. “This is about learning and helping pain points in workflows behind the scenes. […] It exists because we want to dictate what tools get built for artists, so they have a voice in shaping them rather than having tools handed to them. While acknowledging A24 doesn’t love “any of the current AI outputs onscreen in Hollywood,” Shin considers this partnership a bit of a necessary evil. “We’d rather have a seat at the table than on the sidelines,” she stated. The promise of further artist agency and “a seat at the table” are common shields from genAI users, but it doesn’t seem to be working here. Fans consider this move ironic and a betrayal, given Backrooms director Kane Parsons recently called the tech “cultural and economic rot” and wished he could just snap it out of existence.

 Before that, the studio didn’t seem to have much interest in generative AI. In 2024, it came under fire for using the tech to create posters for Civil War, while months later, its horror film Heretic had a disclaimer promising it wasn’t made with the technology. But Hollywood’s become gradually more accepting of generative AI and its supposed potential for the filmmaking process. In that sense, maybe it was inevitable for A24 to fall in line.  Want more io9 news? Check out when to expect the latest Marvel, Star Wars, and Star Trek releases, what’s next for the DC Universe on film and TV, and everything you need to know about the future of Doctor Who.      #A24 #Nice #Google #DealA24,generative ai,Google DeepMind

Google’s DeepMind unit. The reactions were… not happy, to say the least. And like many who’ve let generative AI into their hearts, the film studio’s now left playing defense for its widely panned decision.

In a statement to Wired, A24’s communications rep Sophia Shin stressed the “research” part of its Google partnership. “We’re working side-by-side with DeepMind’s researchers to learn, iterate, and build, having an active hand in shaping new tools and workflows,” she explained. “This is about learning and helping pain points in workflows behind the scenes. […] It exists because we want to dictate what tools get built for artists, so they have a voice in shaping them rather than having tools handed to them.

While acknowledging A24 doesn’t love “any of the current AI outputs onscreen in Hollywood,” Shin considers this partnership a bit of a necessary evil. “We’d rather have a seat at the table than on the sidelines,” she stated. The promise of further artist agency and “a seat at the table” are common shields from genAI users, but it doesn’t seem to be working here. Fans consider this move ironic and a betrayal, given Backrooms director Kane Parsons recently called the tech “cultural and economic rot” and wished he could just snap it out of existence.

Before that, the studio didn’t seem to have much interest in generative AI. In 2024, it came under fire for using the tech to create posters for Civil War, while months later, its horror film Heretic had a disclaimer promising it wasn’t made with the technology. But Hollywood’s become gradually more accepting of generative AI and its supposed potential for the filmmaking process. In that sense, maybe it was inevitable for A24 to fall in line.

Want more io9 news? Check out when to expect the latest Marvel, Star Wars, and Star Trek releases, what’s next for the DC Universe on film and TV, and everything you need to know about the future of Doctor Who.

#A24 #Nice #Google #DealA24,generative ai,Google DeepMind">A24 Wants You to Be Nice About Its Google AI DealA24 Wants You to Be Nice About Its Google AI Deal
                Earlier this week, we learned A24 entered a research partnership with Google’s DeepMind unit. The reactions were… not happy, to say the least. And like many who’ve let generative AI into their hearts, the film studio’s now left playing defense for its widely panned decision. In a statement to Wired, A24’s communications rep Sophia Shin stressed the “research” part of its Google partnership. “We’re working side-by-side with DeepMind’s researchers to learn, iterate, and build, having an active hand in shaping new tools and workflows,” she explained. “This is about learning and helping pain points in workflows behind the scenes. […] It exists because we want to dictate what tools get built for artists, so they have a voice in shaping them rather than having tools handed to them. While acknowledging A24 doesn’t love “any of the current AI outputs onscreen in Hollywood,” Shin considers this partnership a bit of a necessary evil. “We’d rather have a seat at the table than on the sidelines,” she stated. The promise of further artist agency and “a seat at the table” are common shields from genAI users, but it doesn’t seem to be working here. Fans consider this move ironic and a betrayal, given Backrooms director Kane Parsons recently called the tech “cultural and economic rot” and wished he could just snap it out of existence.

 Before that, the studio didn’t seem to have much interest in generative AI. In 2024, it came under fire for using the tech to create posters for Civil War, while months later, its horror film Heretic had a disclaimer promising it wasn’t made with the technology. But Hollywood’s become gradually more accepting of generative AI and its supposed potential for the filmmaking process. In that sense, maybe it was inevitable for A24 to fall in line.  Want more io9 news? Check out when to expect the latest Marvel, Star Wars, and Star Trek releases, what’s next for the DC Universe on film and TV, and everything you need to know about the future of Doctor Who.      #A24 #Nice #Google #DealA24,generative ai,Google DeepMind

Earlier this week, we learned A24 entered a research partnership with Google’s DeepMind unit. The reactions were… not happy, to say the least. And like many who’ve let generative AI into their hearts, the film studio’s now left playing defense for its widely panned decision.

In a statement to Wired, A24’s communications rep Sophia Shin stressed the “research” part of its Google partnership. “We’re working side-by-side with DeepMind’s researchers to learn, iterate, and build, having an active hand in shaping new tools and workflows,” she explained. “This is about learning and helping pain points in workflows behind the scenes. […] It exists because we want to dictate what tools get built for artists, so they have a voice in shaping them rather than having tools handed to them.

While acknowledging A24 doesn’t love “any of the current AI outputs onscreen in Hollywood,” Shin considers this partnership a bit of a necessary evil. “We’d rather have a seat at the table than on the sidelines,” she stated. The promise of further artist agency and “a seat at the table” are common shields from genAI users, but it doesn’t seem to be working here. Fans consider this move ironic and a betrayal, given Backrooms director Kane Parsons recently called the tech “cultural and economic rot” and wished he could just snap it out of existence.

Before that, the studio didn’t seem to have much interest in generative AI. In 2024, it came under fire for using the tech to create posters for Civil War, while months later, its horror film Heretic had a disclaimer promising it wasn’t made with the technology. But Hollywood’s become gradually more accepting of generative AI and its supposed potential for the filmmaking process. In that sense, maybe it was inevitable for A24 to fall in line.

Want more io9 news? Check out when to expect the latest Marvel, Star Wars, and Star Trek releases, what’s next for the DC Universe on film and TV, and everything you need to know about the future of Doctor Who.

#A24 #Nice #Google #DealA24,generative ai,Google DeepMind

Now that Amazon Prime Day is over, it’s time to start gearing up for Fourth of July sales. Most large retailers pivoted their summer-sale timing to compete head-on with Amazon’s accelerated schedule, but you can still snag great deals this July 4th, particularly in active and outdoorsy categories.

REI has the hottest sale of the weekend as far as the WIRED Reviews team is concerned, but there are notable midsummer sales on other sites we shop, like Backcountry, Home Depot, and Lululemon. Also, make sure you don’t sleep on Duer.

The outdoorsy Canadian clothing brand makes highly functional classics that subtly incorporate performance elements like Tencel fabric and strategic triple-stitching. The No Sweat Relaxed Taper pants have been a weekly wear for me for years; they’re as comfy as sweatpants but look dapper enough to wear to a business meeting, while being durable enough for a weekend camping trip.

Duer rarely has sales, and prices typically hover around $100 for pants and $50 for a shirt. Those aren’t outrageous prices, but most guys I know won’t build a wardrobe primarily from $50 tees. In the run-up to July 4th, you can save around 20 percent on a few of the brand’s most popular pants and up to 35 percent on some styles of shorts and long-sleeve shirts.

For the last few months, I’ve had a handful of Duer garments in rotation: Performance Denim+ StraightLive Lite Traveller PantAir Flow Pique PoloPurePima Only Tee, and the aforementioned No Sweat Relaxed Taper.

In addition to my beloved No Sweat pants, the pima cotton tee (some styles of which are on sale) is a big winner. It’s soft and still fits great after two trips through the washer and dryer. It’s getting serious consideration for being my new favorite black T-shirt. (I would suggest the brand start claiming it’s the best T-shirt in the world so as to be eligible for our tailor-judged shootout of men’s shirts.)

The pique polo is also great (the Hazy Mauve color is currently discounted), as it’s super breathable, holds an appropriately stiff collar without feeling too rigid, and also keeps its shape perfectly through two washing cycles.

If you’ve got summer travel or a camping trip coming up, this clothing could be nice to bring with you.


Power up with unlimited access to WIRED. Get best-in-class reporting and exclusive subscriber content that’s too important to ignore. Subscribe Today.

#Love #Duer #Pants #Theyre #Sale #Weekendclothing,deals,shopping,apparel,fourth of july">I Love These Duer Pants, and They’re on Sale This WeekendNow that Amazon Prime Day is over, it’s time to start gearing up for Fourth of July sales. Most large retailers pivoted their summer-sale timing to compete head-on with Amazon’s accelerated schedule, but you can still snag great deals this July 4th, particularly in active and outdoorsy categories.REI has the hottest sale of the weekend as far as the WIRED Reviews team is concerned, but there are notable midsummer sales on other sites we shop, like Backcountry, Home Depot, and Lululemon. Also, make sure you don’t sleep on Duer.The outdoorsy Canadian clothing brand makes highly functional classics that subtly incorporate performance elements like Tencel fabric and strategic triple-stitching. The No Sweat Relaxed Taper pants have been a weekly wear for me for years; they’re as comfy as sweatpants but look dapper enough to wear to a business meeting, while being durable enough for a weekend camping trip.Duer rarely has sales, and prices typically hover around 0 for pants and  for a shirt. Those aren’t outrageous prices, but most guys I know won’t build a wardrobe primarily from  tees. In the run-up to July 4th, you can save around 20 percent on a few of the brand’s most popular pants and up to 35 percent on some styles of shorts and long-sleeve shirts.For the last few months, I’ve had a handful of Duer garments in rotation: Performance Denim+ Straight, Live Lite Traveller Pant, Air Flow Pique Polo, PurePima Only Tee, and the aforementioned No Sweat Relaxed Taper.In addition to my beloved No Sweat pants, the pima cotton tee (some styles of which are on sale) is a big winner. It’s soft and still fits great after two trips through the washer and dryer. It’s getting serious consideration for being my new favorite black T-shirt. (I would suggest the brand start claiming it’s the best T-shirt in the world so as to be eligible for our tailor-judged shootout of men’s shirts.)The pique polo is also great (the Hazy Mauve color is currently discounted), as it’s super breathable, holds an appropriately stiff collar without feeling too rigid, and also keeps its shape perfectly through two washing cycles.If you’ve got summer travel or a camping trip coming up, this clothing could be nice to bring with you.Power up with unlimited access to WIRED. Get best-in-class reporting and exclusive subscriber content that’s too important to ignore. Subscribe Today.#Love #Duer #Pants #Theyre #Sale #Weekendclothing,deals,shopping,apparel,fourth of july

REI has the hottest sale of the weekend as far as the WIRED Reviews team is concerned, but there are notable midsummer sales on other sites we shop, like Backcountry, Home Depot, and Lululemon. Also, make sure you don’t sleep on Duer.

The outdoorsy Canadian clothing brand makes highly functional classics that subtly incorporate performance elements like Tencel fabric and strategic triple-stitching. The No Sweat Relaxed Taper pants have been a weekly wear for me for years; they’re as comfy as sweatpants but look dapper enough to wear to a business meeting, while being durable enough for a weekend camping trip.

Duer rarely has sales, and prices typically hover around $100 for pants and $50 for a shirt. Those aren’t outrageous prices, but most guys I know won’t build a wardrobe primarily from $50 tees. In the run-up to July 4th, you can save around 20 percent on a few of the brand’s most popular pants and up to 35 percent on some styles of shorts and long-sleeve shirts.

For the last few months, I’ve had a handful of Duer garments in rotation: Performance Denim+ StraightLive Lite Traveller PantAir Flow Pique PoloPurePima Only Tee, and the aforementioned No Sweat Relaxed Taper.

In addition to my beloved No Sweat pants, the pima cotton tee (some styles of which are on sale) is a big winner. It’s soft and still fits great after two trips through the washer and dryer. It’s getting serious consideration for being my new favorite black T-shirt. (I would suggest the brand start claiming it’s the best T-shirt in the world so as to be eligible for our tailor-judged shootout of men’s shirts.)

The pique polo is also great (the Hazy Mauve color is currently discounted), as it’s super breathable, holds an appropriately stiff collar without feeling too rigid, and also keeps its shape perfectly through two washing cycles.

If you’ve got summer travel or a camping trip coming up, this clothing could be nice to bring with you.


Power up with unlimited access to WIRED. Get best-in-class reporting and exclusive subscriber content that’s too important to ignore. Subscribe Today.

#Love #Duer #Pants #Theyre #Sale #Weekendclothing,deals,shopping,apparel,fourth of july">I Love These Duer Pants, and They’re on Sale This Weekend

Now that Amazon Prime Day is over, it’s time to start gearing up for Fourth of July sales. Most large retailers pivoted their summer-sale timing to compete head-on with Amazon’s accelerated schedule, but you can still snag great deals this July 4th, particularly in active and outdoorsy categories.

REI has the hottest sale of the weekend as far as the WIRED Reviews team is concerned, but there are notable midsummer sales on other sites we shop, like Backcountry, Home Depot, and Lululemon. Also, make sure you don’t sleep on Duer.

The outdoorsy Canadian clothing brand makes highly functional classics that subtly incorporate performance elements like Tencel fabric and strategic triple-stitching. The No Sweat Relaxed Taper pants have been a weekly wear for me for years; they’re as comfy as sweatpants but look dapper enough to wear to a business meeting, while being durable enough for a weekend camping trip.

Duer rarely has sales, and prices typically hover around $100 for pants and $50 for a shirt. Those aren’t outrageous prices, but most guys I know won’t build a wardrobe primarily from $50 tees. In the run-up to July 4th, you can save around 20 percent on a few of the brand’s most popular pants and up to 35 percent on some styles of shorts and long-sleeve shirts.

For the last few months, I’ve had a handful of Duer garments in rotation: Performance Denim+ StraightLive Lite Traveller PantAir Flow Pique PoloPurePima Only Tee, and the aforementioned No Sweat Relaxed Taper.

In addition to my beloved No Sweat pants, the pima cotton tee (some styles of which are on sale) is a big winner. It’s soft and still fits great after two trips through the washer and dryer. It’s getting serious consideration for being my new favorite black T-shirt. (I would suggest the brand start claiming it’s the best T-shirt in the world so as to be eligible for our tailor-judged shootout of men’s shirts.)

The pique polo is also great (the Hazy Mauve color is currently discounted), as it’s super breathable, holds an appropriately stiff collar without feeling too rigid, and also keeps its shape perfectly through two washing cycles.

If you’ve got summer travel or a camping trip coming up, this clothing could be nice to bring with you.


Power up with unlimited access to WIRED. Get best-in-class reporting and exclusive subscriber content that’s too important to ignore. Subscribe Today.

#Love #Duer #Pants #Theyre #Sale #Weekendclothing,deals,shopping,apparel,fourth of july

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