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News Topical, Digital Desk : Groww IPO GMP: The highly anticipated initial public offering (IPO) of Billionbrains Garage Ventures Ltd., the parent company of the fintech platform Groww, opened for investment today, November 4. The issue will remain open until November 7.
The company plans to raise ₹6,632 crore through this issue. The issue price band has been fixed at ₹95-₹100 per share. Retail investors can apply for 150 shares (1 lot), requiring an investment of ₹15,000.
Analysts' Opinion According to brokerage house Arihant Capital, the retail investor base in India is expected to grow from 66-72 million to 120-130 million in the coming years. Groww's digital presence in 98.36% of Indian pincodes and leading active user base on the NSE could significantly benefit the company from this growth. The company has grown revenue at a CAGR of 85% between FY23 and FY25, while profit margins have reached 45%. Arihant Capital said in its note, “At the upper band of ₹100, the issue is valued at a P/E ratio of 33.8x (based on EPS of ₹2.96 per share). We give it a 'Subscribe for Listing Gains' rating.” On the other hand, Anand Rathi aligned Groww's focus on "trust, transparency, and financial inclusion" and gave it a 'Subscribe - Long Term' rating. The brokerage said the company is looking to expand its customer base further with new products like MTF, commodity derivatives, API trading, wealth management, and bonds. Ahead of the IPO, Groww allotted 29.84 crore shares at ₹100 per share to over 100 anchor investors, raising ₹2,984 crore. Key anchor investors include: HDFC MF, Government of Singapore, Kotak MF, SBI MF, ADIA, Goldman Sachs, Axis MF, ICICI Prudential MF, Mirae Asset MF, Tata MF, Amundi Funds, Fidelity, Morgan Stanley, Malabar India Fund, etc. Groww IPO GMP (Grey Market Premium) According to market observers, the Groww IPO GMP is hovering around ₹16.5 per share, a 17% premium to the upper band of ₹100. This means the share price could be around ₹116.5 at the time of listing. However, the GMP is only indicative and can change rapidly depending on market conditions.
Key Highlights of the Groww IPO
- Total issue size: ₹6,632 crore
- Fresh issue: ₹1,060 crore
- OFS (Offer for Sale): 55.72 crore shares
- Price Band: ₹95-₹100 per share
- Lot Size: 150 shares
- Bid Period: November 4 to November 7
- Share allotment: November 10
- Listing Date: November 12
- Amount raised from anchor investors: ₹2,984 crore
Issue allotment figures
- QIB (Institutional Investor): 75%
- NII (Non-Institutional): 15%
- Retail: 10%
Key facts about the company
Bengaluru-based Groww is a leading online stockbroking platform in India. As of June 2025, Groww has a market share of 26.3% of NSE's active clients, or 12.6 million active users out of 47.9 million. The company reported a net profit of ₹1,824.4 crore in FY25, while in FY24 it incurred a loss due to tax liability.
Who are the promoters?
Lalit Keshre, Harsh Jain, Ishan Bansal, and Neeraj Singh together hold a 28% stake in the company.
Managing banks: JPMorgan Chase & Co., Kotak Mahindra Capital, Citigroup, Axis Bank, and Motilal Oswal Investment Advisors.
Valuation and comparison
Groww is targeting a valuation of approximately ₹61,736 crore, making it larger than companies like Angel One, Motilal Oswal Financial Services, 360 ONE WAM, and Nuvama Wealth.
The size of the Groww IPO and investor interest make it one of the most talked-about fintech issues of 2025. Given the growing participation in digital investments and the company's strong profit model, analysts believe that "subscribing will be beneficial for both listing gains and the long term."
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