Groww Raises Rs 2,985 Crore From Anchor Investors Ahead Of Its IPO
Groww's Rs 6,632-crore IPO will open for subscription on Tuesday. The 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.
Discount stockbroker Groww's parent company Billionbrains Garage Ventures Ltd. raised Rs 2,985 crore from anchor investors on Monday ahead of its IPO, Bloomberg reported. The company allotted 29.9 crore shares to IPO anchors at Rs 100 per share.
Groww's Rs 6,632-crore IPO will open for subscription on Tuesday. The 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.
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 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.
