The Initial Public Offering (IPO) of online stock broking platform Groww received a 10% subscription on the first day of bidding, Tuesday. The response was mainly driven by strong participation from retail and non-institutional investors.
The ₹6,632.30 crore IPO by Billionbrains Garage Ventures Pvt Ltd, the parent company of Groww, opened for subscription on November 4 and will close on November 7.
According to NSE data till 10:50 am, Groww’s IPO received 3.44 crore bids against 36.47 crore shares on offer. The retail investor portion was subscribed 41%, while non-institutional investors (NIIs) subscribed 9% of their reserved quota.
Before the issue opened, Groww raised ₹2,984 crore from anchor investors such as the Abu Dhabi Investment Authority and the Government of Singapore. The company has set a price band of ₹95–₹100 per share, targeting a valuation of over ₹61,700 crore.
Groww IPO GMP (Grey Market Premium)
In the grey market – Groww shares are trading at a premium of ₹17, suggesting a potential 17% listing gain, according to market trackers.
Company Overview & Financials
Groww company is backed by major investors like Peak XV, Tiger Capital and Microsoft CEO Satya Nadella. The company plans to use the IPO funds to strengthen its technology platform and expand business operations.Despite tighter SEBI rules on F&O trading, Groww reported a profit of ₹1,824 crore in FY25, nearly three times higher than the previous year. Over 80% of new users joined the platform organically, and the company’s three-year customer retention rate stands at 77%.
On the mutual fund front, Groww handled ₹34,000 crore worth of SIP inflows in FY25 — around 11.8% of India’s total, as per AMFI data.
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Founded in 2016, Groww has become India’s largest stockbroker with over 12.6 million active clients and a 26% market share as of June 2025.
The IPO allotment is likely to be announced on November 10, and Groww shares will be listed on November 12.