Groww IPO GMP Rises Ahead Of Nov. 4 Launch; Here's What Latest Grey Market Trends Suggest

Amid the flurry of IPOs, Billionbrains Garage Ventures Ltd., the parent company of online trading platform Groww, is set to launch its initial public offering (IPO) this week to raise over Rs 6,500 crore from the primary market.

The grey market premium for the IPO continues to be among the top trending topics in the Business and Finance segment, with the bidding for its shares set to begin soon.

Groww, a Bengaluru-based online investment and trading platform, has become a leading player in India’s fintech sector. The company offers a wide range of investments across stocks, mutual funds and bonds through its app.

Here's all you need to know about the IPO of Billionbrains Garage Ventures Ltd. (Groww) ahead of its launch.

The GMP for the Groww IPO was Rs 14.5 apiece as of 2:00 p.m. on November 3. It indicates a listing price of Rs 114.5 apiece at a premium of 14.5% on the upper limit of the price band.

The grey market premium for the mainboard offer had increased over the last few days. The lowest GMP recorded for the Groww IPO was Rs 10 on October 28; this rose to Rs 15 on October 30. Further gains were observed when the GMP touched Rs 16 on October 31.

Note: GMP does not represent official data and is based on speculation. GMP data from InvestorGain.

The Groww IPO is a book-building issue worth Rs 6,632.3 crore. It comprises a fresh issuance of 10.6 crore shares, worth Rs 1,060 crore, and an offer-for-sale (OFS) of 55.72 crore shares, amounting to Rs 5,572.3 crore.

The price band for the IPO has been fixed between Rs 95 and Rs 100 per share.

To participate in the IPO, retail investors need to bid for a single lot size of 150 shares, requiring an investment of Rs 15,000. Small Non-Institutional Investors need to bid for 14 lots, amounting to an investment of Rs 2,10,000. Big Non-Institutional Investors can participate in the IPO by bidding for a minimum of 67 lots. It will lead to an investment of Rs 10,05,000.

The subscription window for the Groww IPO will remain open from November 4 to November 7, with the allotment expected to be finalised on November 10. The company will transfer shares to the Demat accounts of successful bidders on November 11, and refunds for non-allottees will be processed on the same day. 

The shares Billionbrains Garage Ventures Ltd. are tentatively scheduled to be listed on the BSE and NSE on November 12.

Kotak Mahindra Capital Ltd. is the book running lead manager and MUFG Intime India Pvt. is the registrar of the issue.

The bankers handling the offer include JPMorgan, Kotak Mahindra Capital, Citigroup, Axis Capital, Citigroup and Motilal Oswal.

Billionbrains Garage Ventures, backed by Microsoft Chief Executive Officer Satya Nadella, will use funds raised in the IPO fresh issue to fund expenditure towards cloud infrastructure, brand building and performance marketing activities, investment in two material subsidiaries and funding inorganic growth through unidentified acquisitions and general corporate purposes.

Groww is a fintech company that provides an online platform for investors to invest in assets such as stocks, mutual funds, IPOs, and bonds. It was incorporated in 2017. The company has also expanded into loans and financing solutions.

The company reported a 12% year-on-year (YoY) rise in profit at Rs 378.37 crore in Q1FY26 from Rs 338.01 crore in Q1FY25. Revenue from operations fell 9.6% YoY to Rs 904.4 crore in Q1FY26 from Rs 1,000.8 crore in Q1FY25.

 Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.