One of India’s top discount brokers, Groww, is all set to make a splash in the primary market. It’s Rs 6,632.30 crore IPO opens for subscription on November 04. The company has set the IPO price band between Rs 95 and Rs 100 per share.
| Billionbrains Garage Ventures IPO | Key Details |
| Price Band | Rs 95-100 per share |
| IPO Date | November 04-07 |
| GMP | 15.5% |
| IPO Allotment date | November 10 |
| Listing date | November 12 |
Groww IPO: Issue details
Groww IPO is a book build issue of Rs 6,632.30 crore. The issue is a combination of 10.60 crore fresh shares aggregating to Rs 1,060 crores and an offer for sale of 55.72 crore shares amounting to Rs 5,572.30 crores.
Groww IPO: GMP
The share price of Groww were fetching a premium of 15.5% to its issue price in the grey market. The GMP trend decreased slightly a day ahead of the subscription opening. The stock of Groww was fetching a premium of 16.7% on November 01.
The grey market is an unofficial place where shares change hands illegally ahead of listing.
Groww IPO: Allotment and listing
The IPO will close the bidding on November 07. The allotment for the IPO is expected to be finalised on November 10, while the listing on the exchanges, NSE and BSE, is likely to be on November 12, as per the tentative schedule.
Groww IPO: Key financials
The company’s revenue surged 119% year-on-year to Rs 3,145 crore in FY24, while operating profit grew 17% to Rs 535 crore, as per the PTI report. However, a one-time tax expense of Rs 1,340 crore related to Groww’s decision to shift its domicile from the US to India resulted in a net loss of Rs 805 crore for FY24.
Groww IPO: Lot size
A retail investor needs to apply for a minimum of 150 shares in a lot, amounting to Rs 15,000. The lot size investment for a small NII is 14 lots of 2,100 shares, aggregating to Rs 2 lakh, and for a big NII, it is 67 lots of 10,050 shares, equalling Rs 10 lakh.
Groww IPO: BRLM and registrar
Kotak Mahindra Capital is the book running lead manager for the issue and MUFG Intime India is the registrar of the IPO.
About Billionbrains Garage Ventures
Billionbrains Garage Ventures, the parent firm of Groww, are a direct-to-customer digital investment platform that provides wealth creation opportunities to customers through multiple financial products and services. They are India’s largest and fastest-growing investment platform by active users on NSE as of June 2025.
Groww IPO: Expert’s take
Anand Rathi Research in an IPO note said that at the upper price band, the company is valued at 33.8x FY25 P/E, implying a post-issue market capitalisation of Rs 61,736 crore. Groww seeks to strengthen its pan-India brand by focusing on trust, transparency, and financial inclusion while expanding its customer base organically through word-of-mouth and operating leverage.
“The company also plans to diversify its product suite with offerings like MTF, commodity derivatives, API trading, wealth management, LAS, and Bonds to enhance engagement, wallet share, and AARPU. Considering these factors, the IPO appears fully priced and is rated ‘Subscribe – Long Term’,” said Anand Rathi Reseach.