Groww IPO GMP: Fintech Company's Public Issue Opens For Bidding - Check Subscription, Price Band and Other Details

Groww IPO GMP: The public issue of Billionbrains Garage Ventures Ltd (Groww IPO) opened for subscription on November 4. The three-day subscription window for the public issue is scheduled to close on November 7.

The grey market premium (GMP) for the public issue has also dipped on the first day of subscription. Here are some key details of the public issue which applicants should know before applying for the Groww IPO:

Groww IPO GMP

Groww's unlisted shares are commanding a GMP ranging between Rs 16 and Rs 18 per share according to multiple websites which track the demand for shares of unlisted companies. Based on the GMP of Rs 15, shares of Groww Ltd are likely to make a strong market debut at Rs 118 apiece with gains of 18 per cent.

Groww IPO: Subscription Update

Groww IPO has been subscribed 24 per cent so far on the first day of subscription receiving applications for more than 85.74 million shares against the 364.7 million shares set aside for the category.

So far, retail investors are leading the demand for the fintech company's shares. Retail investors have booked their quota in Groww IPO as much as 96 per cent so far on the first day of subscription by placing bids for 63.9 million shares against the 66.32 million shares offered for subscription. Non-institutional investors applied for 21.7 million shares compared to the 99.39 million shares set aside for NIIs, booking their quota in the Groww IPO, 22 per cent.

At the time of writing, qualified institutional buyers have made bids for 83,550 shares compared to the 198.9 million shares set aside for the category.

Groww IPO: Anchor Investors

Groww raised Rs 2,984 crore from anchor investors on November 3. As many as 298.4 million shares were allocated at a price of Rs 100 per share to the anchor investors. Over 46 per cent of the shares, or 139 million shares, were allocated to 17 domestic mutual funds across 54 different schemes. Some of the major mutual funds which participated in the round included HDFC Mutual Fund, Kotak Mahindra MF, Nippon India MF, SBI MF, Axis MF, Aditya Birla Sun Life MF, Mirae Asset, Motilal Oswal MF and ICICI Prudential Life Insurance.

Apart from the domestic mutual funds, 102 funds, including the Government of Singapore, the Monetary Authority of Singapore, Abu Dhabi Investment Authority, Goldman Sachs and Morgan Stanley, participated in the anchor investment round.

Groww IPO Offer Size, Listing Date, Price Band

Groww IPO issue size aggregates to Rs 6,632.3 crore. The public issue has a fresh issue component of 106 million shares aggregating to Rs 1,060 crore and an offer for sale component of 557.2 million shares aggregating to Rs 5,572.3 crore.

Groww IPO price band has been set at Rs 95 to Rs 100 per share. Retail individual investors (RIIs) can apply for the fintech company's public issue by placing bids for 150 shares or one lot aggregating to an investment of Rs 15,000.

Groww IPO will announce the share allotment status of the public issue on November 10. Successful applicants will receive shares of Groww in their demat accounts on November 11. Shares of Groww will tentatively list on the BSE and NSE. Groww Ltd shares will tentatively be listed on November 12.

Billionbrains Garage Ventures: Key Financials

The fintech company has not announced its financial results for the September quarter of FY 2026-27. However, the company posted a total income of Rs 948.47 crore, profit-after-tax of Rs 378.37 crore and net worth of Rs 5,995.45 crore in the quarter ended September 30, 2025.

In FY 2025-26 Billionbrains Garage Ventures' total income stood at Rs 4061.65 crore rising by over 45 per cent compared to Rs 2795.99 crore in the preceding fiscal.

Billionbrains Garage Ventures turned profitable in FY25, reporting a net profit of Rs 1,824.37 crore after posting a net loss of Rs 805.45 crore in FY24. Billionbrains Garage Ventures' net worth surged by over 90 per cent to Rs 4855.35 crore in FY25 compared to Rs 2542.64 crore in FY24.

Groww IPO: Reservation

Billionbrains Garage Ventures Pvt Ltd reserved 75 per cent of the public issue for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors, and 10 per cent of the offer size has been set aside for retail individual investors.

Groww IPO: Registrar

The book running lead manager for Groww IPO is Kotak Mahindra Capital Co Ltd and the registrar for the issue is MUFG Intime India Pvt Ltd.

Groww: Promoters

The promoters of Billionbrains Garage Ventures Pvt Ltd include Lalit Keshre, Harsh Jain, Ishan Bansal and Neeraj Singh. The promoters held 28 per cent stake in the company prior to the public issue.

Groww IPO: Objective

Billionbrains Garage Ventures Private Ltd plans to use the proceeds from the public issue to set up its cloud infrastructure. The company has also earmarked Rs 225 crore from funds raised via public issues for brand building and performance marketing activities.

Billionbrains Garage Ventures Private Ltd will invest a portion of the proceeds in its material subsidiaries GCS and GIT. The funds raised via the public issue will also be used for funding acquisitions and general corporate purposes.

About Billionbrains Garage Ventures Private Ltd

Billionbrains Garage Ventures Private Ltd is a fintech company and the parent entity of the investment platform, "Groww". The company's core business involves providing a direct-to-customer digital platform which helps retail investors access a wide range of financial products and services.

The company's platform enables users to invest in mutual funds, stocks, futures and options, exchange-traded funds, initial public offerings, digital gold and U.S. stocks. The company also offers value-added services such as Margin Trading Facility (MTF), algorithmic trading, New Fund Offers (NFOs), and credit solutions.