Groww IPO is a book build issue of ₹6,632.30 crores. The issue is a combination of fresh issue of 10.60 crore shares aggregating to ₹1,060.00 crores and offer for sale of 55.72 crore shares aggregating to ₹5,572.30 crores.
Groww IPO bidding opened for subscription on Nov 4, 2025 and will close on Nov 7, 2025. The allotment for the Groww IPO is expected to be finalized on Nov 10, 2025. Groww IPO will list on BSE, NSE with a tentative listing date fixed as Nov 12, 2025.
Groww IPO price band is set at ₹95.00 to ₹100.00 per share . The lot size for an application is 150. The minimum amount of investment required by an retail is ₹15,000 (150 shares) (based on upper price). The lot size investment for sNII is 14 lots (2,100 shares), amounting to ₹2,10,000, and for bNII, it is 67 lots (10,050 shares), amounting to ₹10,05,000.
Kotak Mahindra Capital Co.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
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| IPO Date | November 4, 2025 to November 7, 2025 |
| Listing Date | [.] |
| Face Value | ₹2 per share |
| Issue Price Band | ₹95 to ₹100 per share |
| Lot Size | 150 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 66,32,30,051 shares (aggregating up to ₹6,632.30 Cr) |
| Fresh Issue | 10,60,00,000 shares (aggregating up to ₹1,060.00 Cr) |
| Offer for Sale | 55,72,30,051 shares of ₹2 (aggregating up to ₹5,572.30 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 6,06,75,96,631 shares |
| Share Holding Post Issue | 6,17,35,96,631 shares |
Groww IPO offers total 66,32,30,051 shares. Out of which 49,74,22,538 (75.00%) allocated to QIB, 19,89,69,015 (30.00%) allocated to QIB (Ex- Anchor), 9,94,84,508 (15.00%) allocated to NII 6,63,23,005 (10.00%) allocated to RII and 29,84,53,523 (45.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 49,74,22,538 (75.00%) | NA |
| − Anchor Investor Shares Offered | 29,84,53,523 (45.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 19,89,69,015 (30.00%) | NA |
| NII (HNI) Shares Offered | 9,94,84,508 (15.00%) | NA |
| − bNII > ₹10L | 6,63,23,005 (10.00%) | 31,582 |
| − sNII < ₹10L | 3,31,61,503 (5.00%) | 15,791 |
| Retail Shares Offered | 6,63,23,005 (10.00%) | 4,42,153 |
| Total Shares Offered | 66,32,30,051 (100.00%) |
Groww IPO raises ₹2,984.54 crore from anchor investors. Groww IPO Anchor bid date is November 3, 2025. Groww IPO Anchor Investors list
| Bid Date | November 3, 2025 |
| Shares Offered | 29,84,53,523 |
| Anchor Portion Size (In Cr.) | 2,984.54 |
| Anchor lock-in period end date for 50% shares (30 Days) | December 10, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | February 8, 2026 |
Groww IPO opens on November 4, 2025, and closes on November 7, 2025.
| IPO Open Date | Tue, Nov 4, 2025 |
| IPO Close Date | Fri, Nov 7, 2025 |
| Tentative Allotment | Mon, Nov 10, 2025 |
| Initiation of Refunds | Tue, Nov 11, 2025 |
| Credit of Shares to Demat | Tue, Nov 11, 2025 |
| Tentative Listing Date | Wed, Nov 12, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Nov 7, 2025 |
Investors can bid for a minimum of 150 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 150 | ₹15,000 |
| Retail (Max) | 13 | 1,950 | ₹1,95,000 |
| S-HNI (Min) | 14 | 2,100 | ₹2,10,000 |
| S-HNI (Max) | 66 | 9,900 | ₹9,90,000 |
| B-HNI (Min) | 67 | 10,050 | ₹10,05,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in 2017, Groww is a Bengaluru-based fintech company that provides retail investors direct-to-customer digital investment platform that provides wealth creation opportunities to customers through multiple financial products and services.
The company offers platform to invest in mutual funds, stocks, F&O, ETFs, IPOs, digital gold, and U.S. stocks. Its mobile app is particularly popular among mutual fund investors.
Groww also offers value-added services such as Margin Trading Facility (MTF), algorithmic trading, New Fund Offers (NFOs), and credit solutions.
Business Model
Products & Services:
As of June 30, 2025, the company had 1415 employees.
Competitive Strengths:
Billionbrains Garage Ventures Ltd.'s revenue increased by 45% and profit after tax (PAT) rose by 327% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 30 Jun 2025 | 31 Mar 2025 | 30 Jun 2024 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 12,713.18 | 10,077.31 | 10,819.10 | 8,017.97 | 4,807.78 |
| Total Income | 948.47 | 4,061.65 | 1,047.58 | 2,795.99 | 1,260.96 |
| Profit After Tax | 378.37 | 1,824.37 | 338.01 | -805.45 | 457.72 |
| EBITDA | 418.75 | 2,371.01 | 482.66 | -780.88 | 398.78 |
| NET Worth | 5,995.45 | 4,855.35 | 2,886.28 | 2,542.64 | 3,316.75 |
| Reserves and Surplus | 5,506.78 | 3,251.92 | 2,821.41 | 2,477.76 | 4,445.63 |
| Total Borrowing | 324.08 | 351.99 | 117.66 | 24.06 | |
| Amount in ₹ Crore | |||||
KPI as of Mon, Mar 31, 2025.
| KPI | Values |
|---|---|
| RoNW | 37.57% |
| PAT Margin | 44.92% |
| EBITDA Margin | 59.11% |
| Price to Book Value | 11.76 |
| Market Capitalization | 61735.97 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 3.01 | 2.45 |
| P/E (x) | 33.26 | 40.79 |
The Company Billionbrains Garage Ventures IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Expenditure towards cloud infrastructure | 152.50 |
| 2 | Brand building and performance marketing activities | 225.00 |
| 3 | Investment in one of the Material Subsidiaries, GCS, an NBFC, for augmenting its capital base | 205.00 |
| 4 | Investment in one of the Material Subsidiaries, GIT, for funding its MTF business | 167.50 |
| 5 | Funding inorganic growth through unidentified acquisitions and general corporate purposes |
[Dilip Davda] BGVL is a direct-to-customer digital investment platform enjoying leadership with market share of 26+%. It posted growth in its top lines for the reported periods. Setback marked for FY24 is attributed to accounting adjustments for taxes as one time exceptional item. Based on its recent financial data, the issue appears fully priced. Well-informed investors may park funds for medium to long term. Read detail review...
Billionbrains Garage Ventures Ltd.
Vaishnavi Tech Park,
South Tower, 3rd Floor
Sarjapur Main Road, Bellandur
Bangalore Urban, Karnataka, 560103
Phone: +91 80 6960 1300
Email: corp.secretarial@groww.in
Website: http://www.groww.in/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: groww.ipo@in.mpms.mufg.com
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Groww IPO is a main-board IPO of 66,32,30,051 equity shares of the face value of ₹2 aggregating up to ₹6,632.30 Crores. The issue is priced at . The minimum order quantity is 150.
The IPO opens on November 4, 2025, and closes on November 7, 2025.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Groww IPO using UPI as a payment gateway. Zerodha customers can apply in Groww IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Groww IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Groww IPO opens on November 4, 2025 and closes on November 7, 2025.
Groww IPO lot size is 150, and the minimum amount required for application is ₹15,000.
You can apply in Groww IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Groww IPO will be done on Monday, November 10, 2025, and the allotted shares will be credited to your demat account by Tuesday, November 11, 2025. Check the Groww IPO allotment status.
The Groww IPO listing date is not yet announced. The tentative date of Groww IPO listing is Wednesday, November 12, 2025.
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