Abu Dhabi’s powerful sovereign wealth arm, the Abu Dhabi Investment Authority (ADIA), has taken a commanding position in the public offering of Indian fintech platform Groww, anchoring nearly 4.7% of the issue as the IPO opened for subscription. The move reflects ADIA’s growing appetite for India’s fast-expanding digital and financial ecosystem.
Through its India-based arm, Monsoon, ADIA executed two transactions totaling ₹1.4 billion, securing close to 14 million equity shares. The investment forms part of the ₹29.8 billion ($337 million) raised from a roster of 102 institutional anchors backing Groww’s market debut.
Joining ADIA in this anchor lineup is the Government of Singapore, which picked up a 4.68% stake with an investment of ₹1.39 billion. The IPO, which runs through November 7, marks one of the more anticipated listings in India’s fintech space this year.
Groww’s parent company, Billionbrains Garage Ventures Pvt Ltd, has set the price band at ₹95–100 per share, aiming to raise ₹6.63 billion from the offering. The issue is managed by an impressive consortium of lead bookrunners — Kotak Mahindra Capital, JP Morgan India, Citigroup Global Markets India, Axis Capital, and Motilal Oswal Investment Advisors.
ADIA’s presence in India’s capital markets has deepened significantly since establishing operations in the Gujarat International Finance Tec-City (GIFT City) — a tax-neutral financial hub championed by the Indian government. The sovereign fund is reportedly working toward launching a $4–$5 billion vehicle from the zone to accelerate investments across banking, healthcare, and pharmaceuticals.
From capital markets to private equity, ADIA’s India story continues to grow — and its latest bet on Groww signals confidence in the country’s digital investing revolution.
