Groww IPO (Billionbrains Garage Ventures Limited) is set to open for subscription on November 4, 2025, and will close on November 7, 2025. This is a Book Built Issue with a total issue size of ₹6,632.30 crores, comprising a fresh issue of ₹1,060 crores and an offer for sale of up to 55,72,30,051 equity shares with a face value of ₹2 per share. The price band for the Groww IPO is fixed between ₹95 to ₹100 per share. The retail investor quota is 10%, QIB is allocated 75%, and HNI investors will have 15% of the issue. The IPO listing date is expected on November 12, 2025, at both BSE and NSE, while the allotment date is scheduled for November 10, 2025.
In terms of financial performance, Groww has showcased significant growth in FY 2025. The company’s revenue surged to ₹4,061.65 crores in 2025, compared to ₹2,795.99 crores in 2024. More notably, the company turned profitable with a net profit of ₹1,824.37 crores in 2025, against a loss of ₹805.45 crores in 2024, reflecting a strong turnaround in its business operations and profitability.
Considering the impressive financial results and strong market position, Groww IPO appears to be a promising opportunity for investors looking for long-term investment potential. With consistent revenue growth, profitability, and a strong presence in the online investment platform segment, analysts suggest that long-term investors may find this IPO a strategically valuable addition to their portfolio.
Table of contents
- Groww IPO Date & Price Band Details
- Groww IPO Market Lot
- Groww IPO Reservation
- Groww IPO Anchor Investors
- Groww IPO Allotment & Listing Dates
- Groww IPO: Promoters and Holding Pattern
- Objects of the Issue & Utilisation of proceeds – Groww IPO
- Groww IPO Company Financial Report
- Groww IPO Valuation – FY2025
- Groww IPO Peer Group Comparison
- Groww Company Overview, Key Points, Strengths, and Risks
- IPO Lead Managers aka Merchant Bankers
- Groww IPO Registrar
- Groww Company Address
- FAQs about Groww IPO
Groww IPO Date & Price Band Details
Groww IPO is a Book Built Issue opening on November 4, 2025, and closing on November 7, 2025. The IPO aims to raise ₹6,632.30 crores, including a fresh issue of ₹1,060 crores and OFS of 55.72 crore shares, with a price band of ₹95–₹100 per share, listed on BSE and NSE.
| IPO Details | Details |
|---|---|
| IPO Open Date | November 4, 2025 |
| IPO Close Date | November 7, 2025 |
| Face Value | ₹2 Per Equity Share |
| IPO Price Band | ₹95 to ₹100 Per Share |
| Issue Size | Approx ₹6,632.30 Crores |
| Fresh Issue | Approx ₹1,060 Crores |
| Offer for Sale: | Approx 55,72,30,051 Equity Shares |
| Issue Type | Book Built Issue |
| IPO Listing | BSE, NSE |
| DRHP Draft Prospectus | Click Here |
| RHP Draft Prospectus | Click Here |
Groww IPO Market Lot
The Groww IPO lot size is set at 150 shares per lot. The minimum investment for retail investors is ₹15,000 (1 lot), while the maximum limit is ₹1,95,000 (13 lots). For S-HNI investors, the minimum is ₹2,10,000 (14 lots), and for B-HNI investors, it starts from ₹10,05,000 (67 lots).
| 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 |
| S-HNI Maximum | 66 | 9,900 | ₹9,90,000 |
| B-HNI Minimum | 67 | 10,050 | ₹10,05,000 |
The Groww IPO Subscription Status will be updated after the bidding process begins on Nov 4, 2025.
Groww IPO Reservation
In the Groww IPO, the Qualified Institutional Buyers (QIB) category holds the largest portion with 75% of the shares offered. The Non-Institutional Investors (NII) or HNI category is allocated 15%, while the Retail Investor portion stands at 10%. The Anchor Investor allocation details are yet to be announced.
| Investor Category | Share Offered | -% Shares |
|---|---|---|
| Anchor Investor | – Shares | -% |
| QIB (Ex. Anchor) | – Shares | 75% |
| NII Shares Offered | – Shares | 15% |
| Retail Shares Offered | – Shares | 10% |
Groww IPO Anchor Investors
The Groww IPO anchor bidding is scheduled for November 3, 2025. The Anchor Investors List will be released in a PDF format after the bidding closes. The anchor portion size and total shares offered will be announced soon. As per SEBI rules, 50% of anchor shares will have a lock-in period until December 10, 2025, and the remaining 50% until February 8, 2026.
| Anchor Event | Date |
|---|---|
| Anchor Bidding Date | November 3, 2025 |
| Anchor Investors List | Click Here |
| Shares Offered | [.] Shares |
| Anchor Size | [.] Cr. |
| lock-in period end date 50% shares (30 Days) | December 10, 2025 |
| lock-in period end date 50% shares (90 Days) | February 8, 2026 |
Groww IPO Allotment & Listing Dates
The Groww IPO timeline begins with the opening date on November 4, 2025, and closes on November 7, 2025, with the bidding cut-off time at 5 PM. The basis of allotment will be finalized on November 10, 2025, followed by refunds and credit to Demat accounts on November 11, 2025. The Groww IPO listing date is set for November 12, 2025, on both BSE and NSE.
| 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 Account: | November 11, 2025 |
| IPO Listing Date: | November 12, 2025 |
| IPO Bidding Cut-off Time: | November 7, 2025 – 5 PM |
Groww IPO: Promoters and Holding Pattern
The promoters of Groww are Lalit Keshre, Harsh Jain, Ishan Bansal, and Neeraj Singh. As per the shareholding pattern, the promoter holding before the IPO stands at 6,06,75,96,631 shares (28%), which will reduce slightly to 6,17,35,96,631 shares (27.51%) post-issue, indicating a marginal dilution due to the public offering.
| Particular | Shares | % Share |
|---|---|---|
| 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 & Utilisation of proceeds – Groww IPO
The objects of the Groww IPO issue focus on strengthening its business operations and expanding growth opportunities. The company plans to allocate ₹152.50 crores towards cloud infrastructure, and ₹225.00 crores for brand building and performance marketing. Additionally, ₹205.00 crores will be invested in GCS (NBFC) to enhance its capital base, while ₹167.50 crores will go to GIT for funding its margin trading facility (MTF) business. The remaining proceeds will be used for inorganic growth, acquisitions, and general corporate purposes.
| Purpose | Crores |
|---|---|
| Expenditure towards cloud infrastructure | 152.50 |
| Brand building and performance marketing activities | 225.00 |
| Investment in one of the Material Subsidiaries, GCS, an NBFC, for augmenting its capital base | 205.00 |
| Investment in one of the Material Subsidiaries, GIT, for funding its MTF business | 167.50 |
| Funding inorganic growth through unidentified acquisitions and general corporate purposes |
Groww IPO Company Financial Report
Groww IPO financials show impressive growth, with revenue rising from ₹1,260.96 crores in 2023 to ₹4,061.65 crores in 2025. The company turned profitable with a PAT of ₹1,824.37 crores in 2025 and ₹378.37 crores in June 2025, while assets surged to ₹12,713.18 crores, reflecting strong financial performance.
| Period Ended | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2023 | ₹1,260.96 | ₹757.12 | ₹457.72 | ₹4,807.78 |
| 2024 | ₹2,795.99 | ₹2068.11 | ₹805.45 | ₹8,017.97 |
| 2025 | ₹4,061.65 | ₹1596.49 | ₹1,824.37 | ₹10,077.31 |
| June 2025 | ₹948.47 | ₹444.67 | ₹378.37 | ₹12,713.18 |
Groww IPO Valuation – FY2025
Groww IPO Key Performance Indicators (KPI): The company reflects strong financial health with an impressive ROE of 37.57% and EBITDA Margin of 59.11%. The PAT Margin stands at 44.92%, and EPS is ₹3.34 (Basic). The RoNW is 37.57%, and the NAV per share is ₹8.89, showcasing solid profitability and efficiency.
| KPI | Values |
|---|---|
| ROE: | 37.57% |
| ROCE: | -% |
| EBITDA Margin: | 59.11% |
| PAT Margin: | 44.92% |
| Debt to equity ratio: | – |
| Earning Per Share (EPS): | ₹3.34 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 37.57% |
| Net Asset Value (NAV): | ₹8.89 |
Groww IPO Peer Group Comparison
Groww IPO peer comparison highlights strong competition in the financial sector. Angel One leads with an EPS of 130.05, while Nuvama Wealth shows a RoNW of 28.22%. Prudent Corporate Advisory records the highest PE ratio of 59.40, showcasing investor confidence. Groww stands strong with its digital-first, scalable business model.
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Angel One Limited | 130.05 | 17.52 | 20.85% | 623.72 | 5238.38 Cr. |
| Motilal Oswal Financial Services Limited | 41.83 | 22.39 | 22.64% | 185.24 | 8339.05 Cr. |
| 360 One WAM Limited | 27.14 | 40.98 | 14.37% | 188.89 | 3295.09 Cr. |
| Nuvama Wealth Management Limited | 276.66 | 23.99 | 28.22% | 979.11 | 4158.27 Cr. |
| Prudent Corporate Advisory Services Limited | 47.25 | 59.40 | 29.30% | 161.25 | 1103.56 Cr. |
Groww Company Overview, Key Points, Strengths, and Risks
Groww (parent company: Billionbrains Garage Ventures) is a direct-to-customer (D2C) digital investment platform based in India. It offers a wide range of financial products, focusing on making investing simple, accessible, and transparent, particularly for retail and first-time investors.
| Feature | Description |
|---|---|
| Business Model | A direct-to-customer digital platform offering brokerage services, mutual fund distribution, and lending (via an NBFC subsidiary). Revenue is primarily from brokerage income, interest on margin funding, and distribution commissions. |
| Key Products | Stocks, Derivatives (Futures & Options), IPOs, Bonds, Exchange-Traded Funds (ETFs), Direct Mutual Funds (commission-free), Digital Gold, and Personal Loans. |
| Market Position | It has rapidly grown to be one of India’s largest and fastest-growing investment platforms based on the number of active National Stock Exchange (NSE) users. |
| Target Audience | Focuses heavily on retail investors, especially new investors and users from Tier-2 and Tier-3 cities in India, through its user-friendly interface and financial education content. |
Key Strengths
Groww’s rapid rise is underpinned by several strategic advantages:
- Strong Brand Presence and User Base:
- It has established itself as one of India’s most recognized and trusted fintech brands in the retail investment space.
- High organic customer acquisition and strong penetration in non-metro cities (Tier-II/III).
- Customer-Centric and Intuitive Platform:
- The platform is known for its simple, intuitive interface that appeals to both beginners and active traders.
- High customer engagement and retention levels are supported by a focus on a user-first design and constant technology improvements.
- Diversified Product Ecosystem:
- The platform has successfully evolved from a mutual funds-only platform to a comprehensive “super app,” offering stocks, derivatives, loans, and even its own mutual fund house (Groww Mutual Fund).
- Technology-First Approach and Efficiency:
- The company leverages its robust in-house technology for a fast, scalable, and resilient platform. This digital-first model helps maintain an efficient cost structure.
- Favorable Market Tailwinds:
- It is well-positioned to capitalize on the increasing financial literacy, rising income levels, and low current penetration of Demat accounts in India.
Key Risks and Threats
Investors should be aware of the following potential risks:
- Dependence on Capital Market Activity:
- Groww’s primary revenue source is brokerage income, making its financial performance tightly linked to market cycles (bull vs. bear phases) and overall investor sentiment. A prolonged market downturn can significantly impact trading volumes and, consequently, revenue.
- Intense Competition:
- The Indian broking and fintech space is highly competitive, facing strong rivalry from other digital-first brokers (like Zerodha and Upstox), as well as established bank-led brokerage firms. This competition can lead to pressure on pricing and margins.
- Regulatory Changes:
- Operating in the financial sector, Groww is subject to close oversight from regulators like SEBI and RBI. Frequent changes in regulations related to brokerage fees, derivatives trading, or credit exposure (for its NBFC arm) could negatively affect operations, product pricing, and profitability.
- Platform Reliability and Technology Risk:
- As a 100% digital platform, uninterrupted service is critical. Technical failures, server outages, or cybersecurity breaches, even if brief, can lead to customer dissatisfaction, loss of trading activity, and reputational damage.
- High Valuation (in the context of its IPO):
- The company has historically commanded a premium valuation, which implies high growth expectations. Any slowdown in growth or a miss on projected financials could significantly impact its market perception and stock price.
IPO Lead Managers aka Merchant Bankers
- Kotak Mahindra Capital Co.Ltd.
- JP Morgan India Pvt.Ltd.
- Citigroup Global Markets India Pvt.Ltd.
- Axis Capital Ltd.
- Motilal Oswal Investment Advisors Ltd.
Groww 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
Groww Company Address
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/
FAQs about Groww IPO
The Groww IPO will open on November 4, 2025, and close on November 7, 2025. The allotment date is November 10, 2025, and the expected listing date is November 12, 2025.
The Groww Price Band for the issue is fixed between ₹95 to ₹100 per share.
The minimum investment for a retail investor is ₹15,000, which corresponds to 1 lot of 150 shares (calculated at the upper price band of ₹100).
The market Groww Lot Size is set at 150 shares per lot.
The total issue size is approximately ₹6,632.30 crores, which includes a fresh issue of ₹1,060 crores and an Offer for Sale (OFS) component.
Groww (Billionbrains Garage Ventures Limited) showed a strong financial turnaround in FY 2025, becoming profitable with a net profit of ₹1,824.37 crores, up from a loss of ₹805.45 crores in the previous year.
The share reservation is: 75% for Qualified Institutional Buyers (QIB), 15% for High Net-worth Individuals (HNI/NII), and 10% for Retail Investors.
The funds will be used for strengthening business operations, including expenditure towards cloud infrastructure (₹152.50 Cr), brand building/marketing (₹225.00 Cr), and investment in its subsidiaries (GCS and GIT).
The promoters of Groww are Lalit Keshre, Harsh Jain, Ishan Bansal, and Neeraj Singh.
The Groww IPO is expected to be listed on both the BSE and NSE on November 12, 2025.
Disclaimer: This content is provided strictly for educational and informational purposes only. The securities or investments mentioned are based on publicly available information and should not be construed as investment advice or recommendations. Investors are advised to consult with their financial advisor before making any investment decisions.
