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What is the story about?
Billionbrains Garage Ventures Ltd., the parent company of stock broking platform Groww, is set to launch its ₹6,632 crore initial public offering (IPO) on November 4.
Anchor investors can bid for shares on November 3, while the issue will remain open for public subscription until November 7.
The company has fixed the price band at ₹95-100 per share for its maiden public issue. Investors can place bids in lots of 150 shares and in multiples thereof.
Backed by Peak XV Partners, Sequoia Capital, Tiger Global, and Microsoft Corp. CEO Satya Nadella, Groww is targeting a valuation of about ₹61,736 crore, which would make it larger than its listed peers like Angel One, Motilal Oswal Financial Services, 360 ONE WAM, and Nuvama Wealth Management.
The Bengaluru-based company plans to raise ₹1,060 crore through a fresh issue of shares, while existing investors will sell 55.72 crore shares through an offer for sale.
IPO objectives
The net proceeds from the fresh issue will be utilised for:
Cloud infrastructure expenditure – ₹152.5 crore
Brand building and performance marketing – ₹225 crore
Inorganic growth opportunities
Investment in subsidiaries:
Groww Creditserv Technology Pvt. Ltd. (NBFC) – ₹205 crore to augment its capital base
Groww Invest Tech Pvt. Ltd. – ₹167.5 crore to fund its margin trading facility (MTF) business
Company overview
Groww is one of India's largest stock brokers, commanding a 26.3% market share of active NSE clients as of June 2025, with 12.6 million active clients out of a total 47.9 million industry-wide.
The company accounted for 45.5% of net client additions to the NSE in the twelve months ended June 2025, the highest among all brokers.
Groww turned profitable in FY25, reporting a net profit of ₹1,824.4 crore. In contrast, its FY24 profit was impacted by a one-off exceptional tax liability of ₹1,339 crore.
The company's promoters, Lalit Keshre, Harsh Jain, Ishan Bansal, and Neeraj Singh, collectively hold a 28% stake.
The issue is being managed by JPMorgan Chase & Co., Kotak Mahindra Capital Co., Citigroup Inc., Axis Bank Ltd., and Motilal Oswal Investment Advisors.
Anchor investors can bid for shares on November 3, while the issue will remain open for public subscription until November 7.
The company has fixed the price band at ₹95-100 per share for its maiden public issue. Investors can place bids in lots of 150 shares and in multiples thereof.
Backed by Peak XV Partners, Sequoia Capital, Tiger Global, and Microsoft Corp. CEO Satya Nadella, Groww is targeting a valuation of about ₹61,736 crore, which would make it larger than its listed peers like Angel One, Motilal Oswal Financial Services, 360 ONE WAM, and Nuvama Wealth Management.
The Bengaluru-based company plans to raise ₹1,060 crore through a fresh issue of shares, while existing investors will sell 55.72 crore shares through an offer for sale.
IPO objectives
The net proceeds from the fresh issue will be utilised for:
Cloud infrastructure expenditure – ₹152.5 crore
Brand building and performance marketing – ₹225 crore
Inorganic growth opportunities
Investment in subsidiaries:
Groww Creditserv Technology Pvt. Ltd. (NBFC) – ₹205 crore to augment its capital base
Groww Invest Tech Pvt. Ltd. – ₹167.5 crore to fund its margin trading facility (MTF) business
Company overview
Groww is one of India's largest stock brokers, commanding a 26.3% market share of active NSE clients as of June 2025, with 12.6 million active clients out of a total 47.9 million industry-wide.
The company accounted for 45.5% of net client additions to the NSE in the twelve months ended June 2025, the highest among all brokers.
| (₹cr) | Q1FY26 | Q1FY25 |
| Rev | 904.3 |
1000.7 |
| YOY | -9.6% |
|
| EBITDA | 482.6 |
418.7 |
| Adj EBITDA % | 56.08% |
58.32% |
| PAT | 378.3 |
338 |
| YOY | 11.9% |
Groww turned profitable in FY25, reporting a net profit of ₹1,824.4 crore. In contrast, its FY24 profit was impacted by a one-off exceptional tax liability of ₹1,339 crore.
The company's promoters, Lalit Keshre, Harsh Jain, Ishan Bansal, and Neeraj Singh, collectively hold a 28% stake.
The issue is being managed by JPMorgan Chase & Co., Kotak Mahindra Capital Co., Citigroup Inc., Axis Bank Ltd., and Motilal Oswal Investment Advisors.
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