The parent company of popular investment platform Groww, Billionbrain Garage Ventures Limited, is all set to launch its Initial Public Offering (IPO).
The company has announced a price band of ₹95 to ₹100 per share, with a total issue size of ₹6,632 crore.
Each share carries a face value of ₹2.
The IPO will open for subscription on November 4 and close on November 7, 2025.
It includes both a fresh issue and an offer-for-sale (OFS).
The fresh issue is worth ₹1,060 crore, while existing shareholders will sell around 55.72 crore equity shares through the OFS route.
Groww’s platform allows investors to trade in mutual funds, stocks, ETFs, IPOs, US stocks, and even digital gold.
IPO Details: Lot Size, Promoters, and Investor Participation
According to the Red Herring Prospectus, the floor price is 47.5 times and the cap price is 50 times the face value.
Investors can bid for a minimum of 150 shares, and in multiples of 150 thereafter.
The company was founded in 2016 by Lalit Keshre, Harsh Jain, Ishan Bansal, and Neeraj Singh.
Some of its key investors — including Peak XV Partners, Ribbit Capital, Y Combinator, and Tiger Global — may sell their stakes through this IPO.
Currently, Groww has over 14 million active retail investors using its platform.
As per the share allocation structure,
75% of the issue is reserved for Qualified Institutional Buyers (QIBs),
15% for Non-Institutional Investors (NIIs), and
10% for Retail Investors.
Financially, the company has shown impressive growth.
In FY 2025, its net profit jumped 327%, while revenue rose by 45%.
During April–June 2025, it recorded ₹948.47 crore in revenue and a net profit of ₹378.37 crore.
Its EBITDA stood at ₹418.75 crore.
Gray Market Premium and Key Managers
In the gray market, Groww’s unlisted shares are trading at a premium of ₹11, suggesting that the stock could list with a profit of ₹11 per share.
The book-running lead managers for the IPO are:
Kotak Mahindra Capital Company Limited
J.P. Morgan India
Citigroup Global Markets India
Axis Capital
Motilal Oswal Investment Advisors
The registrar for the issue is MUFG Intime India (formerly Link Intime India).
