Groww to launch Rs 6,632 crore IPO on November 4, sets price band at Rs 95-100 per share

Billionbrains Garage Ventures Ltd, the parent company of Indian stock broking giant Groww, has filed its red herring prospectus (RHP) and has set a price band of Rs 95 to Rs 100 per equity share for its upcoming Rs 6,632 crore IPO. 

The issue, which opens for public subscription on November 4 and closes on November 7, comprises a fresh issue of shares worth Rs 1,060 crore and an offer for sale of 55.72 crore shares by existing investors. The allocation to anchor investors is scheduled for November 3.

Each lot will consist of 150 equity shares, with not less than 75% of the issue reserved for qualified institutional buyers, up to 15% for non-institutional investors, and up to 10% for retail investors. The basis of allotment will be finalised on November 10, with refunds and share credits expected the following day. Shares are scheduled to list on the BSE and NSE on November 12.

The Bengaluru-based company plans to deploy Rs 152.5 crore of the proceeds toward expanding cloud infrastructure, Rs 225 crore for brand development and marketing, and Rs 205 crore to strengthen the capital base of its non-banking finance subsidiary, Groww Creditserv Technology. Another Rs 167.5 crore will support margin trading operations at Groww Invest Tech.

The IPO is managed by Kotak Mahindra Capital, JP Morgan India, Citigroup Global Markets India, Axis Capital, and Motilal Oswal Investment Advisors, while MUFG Intime India is the registrar.

Founded in 2016 by former Flipkart executives Lalit Keshre, Harsh Jain, Ishan Bansal, and Neeraj Singh, Groww operates a digital investment platform offering access to equities, mutual funds, derivatives, bonds, and IPOs. As of June 2025, the company had 12.6 million active clients on the NSE, representing a 26.3% share of retail active clients as of September 2025.

In FY25, Groww reported a net profit of Rs 1,824 crore, a turnaround from a loss of Rs 805 crore in FY24, as revenue rose 49% year-on-year to Rs 3,902 crore. In the first quarter of FY26, it posted revenue of Rs 904 crore and profit of Rs 378 crore.