Global Investors Eye India’s Fintech Boom As Groww And Pine Labs Lead Next Week’s IPO Rush

India’s primary market is set for a high-intensity week with five new initial public offerings (IPOs), led by two of the country’s most-anticipated fintech listings — Groww and Pine Labs. The new wave of public issues is expected to attract strong attention from both domestic and international investors, as global funds continue to increase exposure to India’s expanding digital and consumer economy amid slowing growth in developed markets.

The Groww IPO, opening on November 4 and closing on November 7, is valued at ₹6,632.30 crore and comprises a fresh issue of 10.60 crore shares worth ₹1,060 crore and an offer for sale (OFS) of 55.72 crore shares amounting to ₹5,572.30 crore. Backed by marquee global investors, including Tiger Global, Sequoia Capital, and Ribbit Capital, Groww’s listing will serve as a litmus test for foreign appetite in India’s new-age fintech sector, following mixed outcomes from previous technology IPOs such as Paytm and Policybazaar.

Digital payments major Pine Labs will open its IPO on November 7, closing on November 11. The book-built issue comprises a fresh issue worth ₹2,080 crore and an OFS of 8.23 crore shares. The Singapore-headquartered fintech, with a strong merchant network spanning India and Southeast Asia, is expected to be closely watched by international institutional investors betting on cross-border fintech growth across emerging markets.

Among the smaller offerings, the Shreeji Global FMCG IPO will open on November 4 and close on November 7, featuring a fresh issue of ₹85 crore. Finbud Financial IPO, opening on November 6, will offer ₹71.68 crore in fresh equity and close on November 10. Curis Lifesciences IPO will follow, opening on November 7 and closing on November 11, with an issue size of ₹27.52 crore.

The week ahead will also feature several listings, including the Orkla India IPO and Safecure IPO, which are set to debut on November 6 across the BSE and NSE, while the Studds Accessories IPO is scheduled to list on November 7. In the SME segment, Jayesh Logistics IPO will debut on November 3 on the NSE SME platform, followed by Game Changers Texfab IPO on November 4 on the BSE SME.

Analysts note that the upcoming IPO calendar highlights India’s growing appeal as a global capital market destination. With fintech valuations stabilising and investor focus shifting to profitability and scale, both Groww and Pine Labs represent a maturing phase of India’s startup ecosystem. Global fund managers see these listings as a gateway to participate in one of the world’s fastest-growing digital economies, where rising internet penetration and regulatory clarity continue to drive structural growth.

Internationally, India’s IPO momentum also contrasts sharply with the subdued primary markets in the US, UK, and parts of Europe, where macroeconomic uncertainty and interest rate headwinds have slowed new listings. The strong pipeline of Indian IPOs, particularly in fintech, indicates continued depth in the capital market and a shift in investor preference toward Asia’s high-growth digital markets.