Groww-parent Billionbrains Garage Ventures Rs 6,632-crore IPO to open on November 4, price band set at Rs 95-100 per share

Groww-parent Billionbrains Garage Ventures IPO News

Investment platform Billionbrains Garage Ventures, the parent company of stockbroker Groww backed by Peak XV Partners, Sequoia Capital, Tiger Global, and YC Holdings, is set to launch its Rs 6,632.3-crore maiden public issue for subscription on November 4.

The company, which is valued at Rs 61,736 crore (bigger than its listed peers - Angel One, Motilal Oswal Financial Services, 360 ONE WAM, and Nuvama Wealth Management), has fixed price band for the offer at Rs 95-100 per share.

The IPO anchor book will be launched for a day on November 3, while the issue will remain open for public till November 7. The allotment of IPO shares will be finalised by November 10, while Groww shares will be available for trading on the BSE and NSE effective November 12.

The company will issue fresh shares worth Rs 1,060 crore, while investors Peak XV Partners, YC Holdings, Ribbit Capital, Internet Fund, Kauffman Fellows Fund, Alkeon Capital Management, Propel Venture Partners, Sequoia Capital Global will be selling 55.72 crore equity shares (worth Rs 5,572.3 crore) via offer-for-sale route.

Moneycontrol was the first to report this month that the Groww is likely to have fixed price band at Rs 95-100 per share, and aims for a November listing.

Promoters including Lalit Keshre, Harsh Jain, Ishan Bansal and Neeraj Singh hold 28.04 percent stake in Groww, while public shareholders own 71.96 percent shareholding in the company.

Venture capital firm Peak XV Partners Investments is the largest investor in Groww that operates an online trading platform and asset management business, with 19.87 percent stake.

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This follows investor Ribbit, global investment organisation that invests in early-stage companies, holds 14.78 percent stake, while early-stage venture investor YC has 13.24 percent shareholding in Groww. Tiger Global Management's Internet Fund VI owns 6.04 percent shares.

Billionbrains Garage Ventures will spend Rs 152.5 crore of fresh issue proceeds for cloud infrastructure, and Rs 225 crore for brand building and performance marketing activities.

Further, Rs 205 crore will be invested in subsidiary Groww Creditserv Technology, a non-banking financial company, for augmenting its capital base, and Rs 167.5 crore for funding margin trading facility business of subsidiary Groww Invest Tech. The remainder funds will be used for its inorganic growth through unidentified acquisitions and general corporate purposes.

The company has reserved up to 75 percent of IPO shares for qualified institutional buyers, 15 percent for non-institutional investors and the remainder 10 percent shares for retail investors. Investors can bid for a minimum of 150 equity shares and in multiples of 150 shares thereafter.

On the financial front, the Groww parent recorded net profit at Rs 378.4 crore for the quarter ended June 2025, rising 11.9 percent compared to Rs 338 crore in same period last year, but revenue during the same period declined 9.6 percent to Rs 904.4 crore, against Rs 1,000.8 crore.

For the fiscal year 2025, the company has reported profit at Rs 1,824.4 crore, against loss of Rs 805.5 crore in the previous fiscal, while revenue in the same period soared 49.5 percent to Rs 3,901.7 crore, up from Rs 2,609.3 crore.

The merchant bankers managing the Groww IPO are Kotak Mahindra Capital Company, JP Morgan India, Citigroup Global Markets India, Axis Capital, and Motilal Oswal Investment Advisors.