Groww IPO: From Competition To Crossover, Know What Nithin Kamath Said About Fintech Firm’s IPO

Billionbrains Garage Ventures (Groww IPO) launched its public issue on November 4. The public issue garnered modest demand across categories on the first day of bidding. The public issue was booked 57 per cent across categories as investors bid for 20,62,53,000 shares compared to the 36,47,76,528 shares offered for subscription. Zerodha co-founder Nithin Kamath also wrote about the public issue in a post on social media platform X.

In his post, Kamath congratulated the co-founder and chief executive officer of Groww, Lalit Keshre. However, the unexpected cross-over between the two competitors made the post go viral. In-line with the competitive spirit, Kamath added that nearly 20 per cent of all the applications made for Groww IPO came from Zerodha customers.

“Congrats on the IPO and best of luck. Btw, about 20 per cent of all Groww IPO applications are from @zerodhaonline customers." The tongue-in-cheek remark showed grace even amid competition,” Kamath said.

Groww Vs Zerodha

Groww and Zerodha are key players in India’s direct competitors in the wealth-tech and financial services industry, specifically within the segment of online stock broking and investment platforms in India.  As of June 30, 2025, India’s equity market (across exchanges) reached a market capitalization of Rs 462 trillion.

Groww and Zerodha are neck-to-neck in terms of holding market share in the booming wealth-tech and financial services industry with Groww having an active client count ranging between 12.6 - 13.2 million and a market share of 26-27 per cent compared to Zerodha which has a client count of 7.9 to 8.1 million and a market share ranging between 16-17 per cent according

Groww IPO Details

Retail investors led the demand for shares of Billionbrains Garage Private Ventures (Groww) on the first day of subscription as they booked their quota 1.91 times. Retail investors applied for 126.7 million shares of the company compared to the 66.3 million shares set aside for the category.

Non-institutional investors booked the issue 59 per cent by applying for 59.1 million shares compared to 99.39 million shares offered. Qualified institutional buyers applied for 20.29 million shares against the 198.9 million shares reserved for the category, booking the issue one per cent.

Groww IPO aims to raise Rs 6,632 crore through the public issue. The Rs 6,632 crore public issue has a fresh equity issue of 106 million shares worth Rs 1,060 crore and an offer for sale (OFS) of 557 million shares worth Rs 5,572.3 crore.

Groww IPO price band has been fixed between Rs 95–100 per share, Groww’s public issue is scheduled to close on November 7 and the share allotment status of Groww IPO will be decided on November 10. Shares of Billionbrains Garage Ventures Pvt Ltd will be listed on November 12. Shares of the fintech company will list on both the NSE and BSE.

Billionbrains Garage Ventures Private Ltd is a technology-based fintech company which operates the digital investment platform "Groww". The company’s core business is to give users an app which to access a wide range of financial products and services. Groww offers services such as stockbroking (equities, derivatives, ETFs, IPOs, U.S. stocks),  investment in mutual funds (direct mutual funds and SIPs), digital gold and credit solutions such as personal loans and a Margin Trading Facility (MTF) through its NBFC subsidiary Groww Creditserv Technology (GCS). The company also offers wealth management products and services post its acquisition of Finwizard Technology.