Billionbrains Garage Ventures Pvt. Ltd., which operates India's largest online broker Groww, has launched its initial public offering, underscoring the surge in retail investors in the world's fourth-largest stock market.
On offer in the Groww IPO are 66.32 crore shares—10.60 crore new and 55.72 crore via an offer for sale—in a price range of ₹95-100 to raise as much as ₹6,632.30 crore, according to the company's red-herring prospectus. The lot size for retail investors is set at 150 shares, which translates to a minimum investment of ₹15,000.
That pegs Groww's valuation at ₹61,735 crore as against ₹58,500 crore in July 2025. That's about 30 times earnings for the fiscal year ended 31 March—meaning, the company wants investors to pay ₹30 for every rupee it earns.
Earlier, the Groww IPO raised about ₹3,000 crore from 102 anchor investors, including funds managed by Goldman Sachs Group Inc., Morgan Stanley, HSBC Holdings Plc, Abu Dhabi Investment Authority and Singapore.
JPMorgan Chase & Co., Kotak Mahindra Capital Co., Citigroup Inc., Axis Bank Ltd. and Motilal Oswal Investment Advisors are managing the sale.
{{/usCountry}}JPMorgan Chase & Co., Kotak Mahindra Capital Co., Citigroup Inc., Axis Bank Ltd. and Motilal Oswal Investment Advisors are managing the sale.
{{/usCountry}}| Detail | Information |
|---|---|
| Company Name | Billionbrains Garage Ventures Ltd. (Groww) |
| Company Profile | A D2C retail investment and broking platform |
| Competition | Zerodha, Angel One, Motilal Oswal, Sharekhan, 5Paisa, etc. |
| IPO Dates | 4-7 November 2025 |
| IPO Price Band | ₹95-100 per share |
| IPO Size | ₹6,632.30 crore = ₹1,060 crore fresh + ₹5,572.30 OFS |
| IPO Valuation | ~$7 billion ( ₹65,000 crore) |
| IPO Lot Size | 150 shares |
| Minimum Investment | ₹15,000 |
| Listing Date | 12 November (NSE & BSE) |
Groww IPO Details
Backed by Microsoft Corp. Chief Executive Officer Satya Nadella, Groww had nearly 1.2 crore active users in September, while growing at a compounded annual growth rate of more than 100% over the past few years—thanks to the firm’s competitive pricing, technology and intuitive user interface, according to Nuvama Wealth Management Ltd.
The brokerage reported profit of ₹1,820 crore on revenue of ₹3,900 crore in FY25, according to the RHP.