Daijiworld Media Network - Mumbai
Mumbai, Oct 30: Billionbrains Garage Ventures Ltd., the parent company of India’s leading investment platform Groww, has announced the price range for its highly anticipated Rs 6,632-crore initial public offering (IPO), scheduled to open for subscription from November 4 to November 7.
The IPO comprises a fresh issue of shares worth Rs 1,060 crore and an offer for sale (OFS) of 55.7 crore shares valued at Rs 5,572 crore. Investors can bid within the price band of Rs 95 to Rs 100 per share, with a minimum lot size of 150 equity shares of face value Rs 2, requiring an investment of Rs 15,000 at the upper price limit.
The portion reserved for retail investors has been capped at 10%, while anchor investors will be invited to participate on November 4, a day before the issue opens to the public.
According to the company’s timeline, the share allotment will be finalised on November 10, followed by the credit of shares to demat accounts on November 11, and listing on the stock exchanges on November 12.
Backed by Microsoft CEO Satya Nadella, Groww plans to utilise the funds from the fresh issue to expand its margin trading, unsecured lending, and wealth management businesses, while also exploring inorganic growth opportunities, as stated in its offer documents.
Prominent investors Peak XV Partners, Y Combinator, Ribbit Capital, Tiger Global, and Kauffman Fellows are among those selling stakes in the OFS.
The IPO is being managed by a consortium of top investment banks including JPMorgan, Kotak Mahindra Capital, Citigroup, Axis Capital, and Motilal Oswal.
In FY25, Groww’s parent company Billionbrains Garage Ventures reported a profit of Rs 1,819 crore, marking a turnaround from the previous fiscal year, which had seen a one-time tax expense of Rs 1,340 crore linked to the company’s reverse-flip to India from the US completed in March 2024.
Groww competes with leading brokerage firms Zerodha and Angel One, both of which have reported robust growth as India’s retail investor base continues to expand.
The IPO marks one of the most closely watched listings of 2025, signalling strong investor appetite in India’s rapidly growing fintech and online investment sector.