Discount stockbroker Groww's parent company Billionbrains Garage Ventures Ltd. is set to open its initial public offering worth Rs 6,632 crore for subscription on Tuesday.
The Groww IPO offer consists of a fresh issue of up to Rs 1,060 crore and an offer for sale of 55.7 crore shares worth up to Rs 5,572 crore.
Investors offloading their stake in the platform include Peak XV, Y Combinator, Ribbit Capital, Tiger Global, and Kauffman Fellows.
The bankers handling the offer include JPMorgan, Kotak Mahindra Capital, Citigroup, Axis Capital, Citigroup and Motilal Oswal.
Investors can place bids in the price range of Rs 95 and Rs 100, according to a public advertisement. The minimum bid lot size is 150 equity shares of face value of Rs 2, requiring an investment of Rs 15,000 on the upper price band.
The portion for retail investors is capped at 10% of the IPO offer. Based on the upper price band, the company is valued at Rs 92,074 crore.
Groww IPO Details
Dates: Nov. 4-7
Price Band: Rs 95-100 per share
Lot Size: 150 per lot
Issue size: Rs 6,632.30 crore
Fresh issue: Rs 1,060 crore
OFS: Rs 5,572.30 crore
Indicated Valuation: Rs 92,074 crore
Date of allotment: Nov. 10
Credit To Demat: Nov. 11
Listing Date: Nov. 12
About Billionbrains Garage Ventures
Groww is a direct-to-customer digital investment platform that enables users to invest through a range of financial products and services. The RHP document states that Groww is India's largest and fastest-growing investment platform by active users on the NSE as of 30 June 2025. Through Groww, customers can invest and trade in stocks (including IPOs), derivatives, bonds, mutual funds and other products, while also accessing margin trading facilities and personal loans. The company was founded by Lalit Keshre, Harsh Jain, Ishan Bansal and Neeraj Singh, former colleagues at Flipkart India.
Groww IPO: Use Of Proceeds
Billionbrains Garage Ventures, backed by Microsoft Chief Executive Officer Satya Nadella, will use funds raised in the IPO fresh issue to expand margin trading, unsecured lending, wealth management, and possibly inorganic growth, as per offer documents.
Groww IPO: Financials
Groww's parent company saw its top line grow by around 30% in fiscal 2025 while making a profit of Rs 1,819 crore, according to a valuation report reviewed by NDTV Profit.
Billionbrains Garage Ventures reported a profit after tax after a loss in the previous year which came on the back of a one-time tax expense of Rs 1,340 crore. The tax expense was paid for reverse-flipping the company's domicile to India from the US, which was completed in March 2024.
Groww counts the likes of Zerodha and Angel One Ltd. among its industry rivals. A growing top line has been observed consistently across the broking industry as more retail investors take to the country's capital markets, with Angel One's total revenue from operations coming up to Rs 5,238 crore for the fiscal 2025 — a year-on-year increase of 23%.
Groww IPO Key Risks
Any downturn or disruption in financial markets in India or globally could materially affect Groww's business and financial condition.
Continuous, uninterrupted access to Groww's technology platform is essential; system failures or performance issues on its website, mobile app or platform could negatively impact business results.
Groww's success depends on its ability to acquire and retain customers; failure to do so may adversely affect its operations and financial performance.
The "Groww" brand is critical to the company's success; any damage to its brand or reputation could materially affect customer acceptance and business operations.
The business depends on accurate and complete customer KYC information; misrepresentation, errors or incomplete data could negatively impact financial condition, cash flows and prospects.
Billionbrains Garage Ventures IPO GMP
According to InvestorGain, the latest GMP for the Groww IPO stood at Rs 16.7 as of 03:55 p.m. on Saturday. With an upper price band of Rs 100 per share, the estimated listing price is likely to be Rs 116.7, as per the latest GMP. This implies an expected listing gain of 16.70% per share.
Note: GMP does not represent official data and is based on speculation.
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