Groww IPO

Introduction

Groww, India’s most popular online investment platform, is opening its IPO from November 4 to 7, 2025. Operated by Billionbrains Garage Ventures Ltd., Groww has revolutionized the way young and first-time investors approach stocks, mutual funds, F&O, bonds, and IPOs—with an intuitive app and transparent pricing. As India’s largest and fastest-growing digital investment broker (by NSE active users as of June 2025), Groww’s listing is creating major buzz for retail and tech-focused investors alike.

IPO Highlights

• Issue Size: ₹6,632.3 crore (Fresh issue: ₹1,060 crore; Offer for sale: ₹5,572.3 crore)
• Price Band: ₹95–₹100 per share
• Lot Size: 150 shares (minimum investment: ₹15,000)
• Subscription Dates: Nov 4–7, 2025 (listing: Nov 12, 2025, BSE & NSE)
• Face Value: ₹2 per share
• Bookbuilding Issue: Anchor bidding on Nov 3, 2025
• Registrar: MUFG Intine India Pvt Ltd
• Prominent Investors Selling: Tiger Global, Sequoia, Ribbit, Y Combinator, and the co-founders

Company Financials

Billionbrains Garage Ventures Ltd. Financial Information (Restated Consolidated)

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

 

Objects of the Issue

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

 

Business Model & Story

Founded in 2016 by four former Flipkart employees, Groww started with a mission—make investing simple for every Indian. Today, it serves users from 98% of Indian pin codes, enabling direct investing in mutual funds, stocks, IPOs, US equities, ETFs, and F&O. The core platform offers:

• Paperless onboarding, intuitive app/web experience
• Low pricing—zero-commission mutual funds, Rs. 20/order equity/F&O brokerage
• UPI-powered payments, and real-time data & tutorials

Beyond broking, Groww is building a financial “super app,” including its mutual fund arm (acquired from Indiabulls in 2023), loans in partnership, and digital gold. As of June 2025, it has over 41 million users with a customer base growing fastest outside major metros.

Financial Overview

• FY25 Revenue: Over ₹1,100 crore (est. 70% YoY growth)
• Profitability: Turning profitable post-pandemic, focused on scalability
• Active NSE Users: #1 digital broker in India by user base (June 2025)
• Employee Base: 1,415+ (June 2025)

Key Strengths

• India’s best-known digital first investment brand
• Broadest product suite among fintechs—multi-asset, multi-channel
• Trusted by Millennials and Gen Z with robust mobile features
• Deep investor backing; active partnership with leading banks and mutual fund houses
• Transparent, competitive pricing and clean UI

Risks

• 84% of revenue still linked to stock broking/capital market trends
• Large OFS means most funds go to investors, not company balance sheet
• High valuation multiples; future profitability still being tested
• Competitive pressure from Zerodha, Angel One, Upstox, and Paytm Money

How To Apply for the Online?

• Login or Open demat account withJM Financial Services/JM PRO app:Open theJM PRO apporJM Financial Services websiteand log in with your credentials .

• Locate the IPO Section: Navigate to the 'IPO' section on the platform.

• Select IPO: Find and select the IPO from the list of open IPOs.

• Enter the Lot Size: Specify the number of lots you want to bid for.

• Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.

• Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

How To Check the Allotment Status of IPO?

Steps to check IPO allotment status on JM Pro app:

• Log in to theJM Proapp .

• Go to the IPO Section and then to IPO Orders.

• Select the individual IPO that you had applied for and check the allotment status.

JM Financial Services will notify you of your IPO allotment status via push notification and email

Final Thoughts :-

Groww is set to redefine the public markets—just as it has changed investing for a new generation. For research-backed IPO analysis and allocation strategies, investors can consult experts like JM Financial Services before hitting the ‘Apply’ button.

FAQs

Q: What are the Groww IPO dates and price band?
A: Nov 4–7, 2025; ₹95–₹100 per share.

Q: What’s the minimum investment?
A: 150 shares per lot; ₹15,000 at upper band.

Q: Will Groww benefit from the IPO proceeds?
A: Only from the fresh issue (₹1,060 crore); majority from Offer for Sale to existing investors.

Q: What makes Groww unique?
A: Seamless digital onboarding, lowest brokerage, widest product suite among digital brokers, and focus on retail—plus rapid user growth outside Tier-1 cities.

Q: Where will Groww shares list?
A: BSE and NSE, tentatively Nov 12, 2025.

Q: Who are the founders of Groww?
A: Lalit Keshre, Harsh Jain, Ishan Bansal, and Neeraj Singh.