Groww, officially known as Billionbrains Garage Ventures Ltd, is gearing up to launch its Initial Public Offering (IPO) on November 4, 2025. The issue will close on November 7, 2025. The Groww IPO is a Book Built Issue through which the company plans to raise about ₹6,632.30 crores, consisting of a fresh issue of ₹1,060 crores and an offer for sale of 55,72,30,051 equity shares with a face value of ₹2 each.
The Groww IPO price band is set between ₹95 and ₹100 per share. Of the total issue, 75% is reserved for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (HNIs), and 10% for retail investors. The shares will be listed on both BSE and NSE, with the listing date scheduled for November 12, 2025. The allotment of shares is expected to be finalized on November 10, 2025.
Contents
Groww IPO Details
| Particulars | Details |
|---|---|
| IPO Open Date | November 4, 2025 |
| IPO Close Date | November 7, 2025 |
| Face Value | ₹2 per equity share |
| Price Band | ₹95 to ₹100 per share |
| Issue Size | ₹6,632.30 crores (approx.) |
| Fresh Issue | ₹1,060 crores (approx.) |
| Offer for Sale | 55,72,30,051 equity shares |
| Issue Type | Book Built Issue |
| Listing | BSE, NSE |
Groww IPO Market Lot
Retail investors can bid for a minimum of 1 lot containing 150 shares, amounting to an investment of ₹15,000. The maximum limit for retail investors is 13 lots (1,950 shares) worth ₹1,95,000.
| Application | Lot Size | Shares | Amount (₹) |
|---|---|---|---|
| Retail Minimum | 1 | 150 | ₹15,000 |
| Retail Maximum | 13 | 1,950 | ₹1,95,000 |
| S-HNI Minimum | 14 | 2,100 | ₹2,10,000 |
| B-HNI Minimum | 67 | 10,050 | ₹10,05,000 |
Reservation for Investors
| Investor Category | Share Quota |
|---|---|
| QIB | 75% |
| NII (HNI) | 15% |
| Retail | 10% |
Important IPO Dates
| Event | Date |
|---|---|
| IPO Open Date | November 4, 2025 |
| IPO Close Date | November 7, 2025 |
| Basis of Allotment | November 10, 2025 |
| Refunds | November 11, 2025 |
| Credit to Demat | November 11, 2025 |
| Listing Date | November 12, 2025 |
| Cut-off Time for Bidding | November 7, 2025 – 5 PM |
Groww IPO Anchor Investors
Anchor bidding for Groww IPO will take place on November 3, 2025. Around 29.84 crore shares will be offered to anchor investors, worth approximately ₹2,984.54 crores. The lock-in period for 50% of anchor shares will end on December 10, 2025, and the remaining 50% will be released on February 8, 2026.
Promoters and Shareholding Pattern
The promoters of Groww are Lalit Keshre, Harsh Jain, Ishan Bansal, and Neeraj Singh.
| Particulars | Shares | Shareholding |
|---|---|---|
| Promoter Holding Pre-Issue | 6,06,75,96,631 | 28% |
| Promoter Holding Post-Issue | 6,17,35,96,631 | 27.51% |
Objects of the Issue
The company plans to utilize the IPO proceeds for technology, brand marketing, and strengthening its subsidiaries.
| Purpose | Amount (₹ Crores) |
|---|---|
| Investment in cloud infrastructure | 152.50 |
| Brand building and performance marketing | 225.00 |
| Capital infusion into subsidiary GCS (NBFC) | 205.00 |
| Funding MTF business via subsidiary GIT | 167.50 |
| Acquisitions and general corporate purposes | Not specified |
About Groww
Groww is one of India’s most popular digital investment platforms, offering a wide range of financial products that include stocks, IPOs, F&O, ETFs, bonds, mutual funds, digital gold, and U.S. stocks. The platform is known for its simple and intuitive app design, which makes investing accessible even for first-time users.
As of June 30, 2025, Groww covers over 98% of India’s pin codes and has 1,415 employees. The company aims to provide a seamless investment experience while building long-term trust with investors. Its app has become a go-to platform for retail investors across India, especially for mutual fund and IPO investments.
Financial Performance
| Financial Year | Revenue (₹ Cr) | Expense (₹ Cr) | Profit (₹ Cr) | Assets (₹ Cr) |
|---|---|---|---|---|
| 2023 | 1,260.96 | 757.12 | 457.72 | 4,807.78 |
| 2024 | 2,795.99 | 2,068.11 | -805.45 | 8,017.97 |
| 2025 | 4,061.65 | 1,596.49 | 1,824.37 | 10,077.31 |
| June 2025 | 948.47 | 444.67 | 378.37 | 12,713.18 |
Groww’s financials show a strong turnaround in FY2025, with profits rising to ₹1,824.37 crores, compared to a loss of ₹805.45 crores in FY2024. Revenue jumped from ₹2,795.99 crores to ₹4,061.65 crores, reflecting high growth and efficiency gains.
Key Financial Ratios (FY2025)
| Metric | Value |
|---|---|
| EPS (Basic) | ₹3.34 |
| P/E Ratio | N/A |
| Return on Net Worth (RoNW) | 37.57% |
| ROE | 37.57% |
| EBITDA Margin | 59.11% |
| PAT Margin | 44.92% |
| NAV | ₹8.89 |
Peer Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income (₹ Cr) |
|---|---|---|---|---|---|
| Angel One Ltd. | 130.05 | 17.52 | 20.85% | 623.72 | 5,238.38 |
| Motilal Oswal Financial Services Ltd. | 41.83 | 22.39 | 22.64% | 185.24 | 8,339.05 |
| 360 One WAM Ltd. | 27.14 | 40.98 | 14.37% | 188.89 | 3,295.09 |
| Nuvama Wealth Management Ltd. | 276.66 | 23.99 | 28.22% | 979.11 | 4,158.27 |
| Prudent Corporate Advisory Services Ltd. | 47.25 | 59.40 | 29.30% | 161.25 | 1,103.56 |
Lead Managers
The IPO is being managed by:
- Kotak Mahindra Capital Co. Ltd.
- JP Morgan India Pvt. Ltd.
- Citigroup Global Markets India Pvt. Ltd.
- Axis Capital Ltd.
- Motilal Oswal Investment Advisors Ltd.
Company Contact
Billionbrains Garage Ventures Ltd.
Vaishnavi Tech Park, South Tower, 3rd Floor,
Sarjapur Main Road, Bellandur,
Bengaluru, Karnataka – 560103
Phone: +91 80 6960 1300
Email: corp.secretarial@groww.in
Website: www.groww.in
IPO Registrar
MUFG Intime India Pvt. Ltd.
Phone: +91-22-4918 6270
Email: groww.ipo@in.mpms.mufg.com
Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html
FAQs
u003cstrongu003eWhat is Groww IPO?u003c/strongu003e
Groww IPO is a mainboard issue worth ₹6,632.30 crores with a price band of ₹95 to ₹100 per share. The shares will be listed on BSE and NSE.
u003cstrongu003eWhen does the IPO open and close?u003c/strongu003e
The IPO opens on November 4, 2025, and closes on November 7, 2025.
u003cstrongu003eWhat is the lot size and minimum investment?u003c/strongu003e
Investors can apply for a minimum of 150 shares worth ₹15,000.
u003cstrongu003eWhen will the allotment and listing take place?u003c/strongu003e
The allotment is expected on November 10, 2025, and the listing on November 12, 2025.
u003cstrongu003eHow to apply for the IPO?u003c/strongu003e
You can apply through ASBA via your bank account or use UPI through registered stockbrokers. Offline applications can also be submitted through brokers.
Expert Comment
Groww’s strong financial turnaround, impressive profitability, and robust technology-led operations make its IPO one of the most awaited in 2025. The company’s wide user base, innovative app design, and high return on net worth (37.57%) indicate strong fundamentals. For investors looking for exposure in India’s fast-growing fintech space, the Groww IPO looks promising for long-term investment.
