Groww IPO GMP: Fintech Company's Public Issue Set To Open On November 4 - Should You Apply?

Groww IPO (Billionbrains Garage Ventures Ltd) is scheduled to open for subscription on November 4. The fintech company's public issue will close for subscription on November 7.

Here's a look at some of the key details of the fintech company's peers, financials, strengths and risks before you consider applying for the public issue:

Groww IPO GMP

Groww IPO GMP is ranging between Rs 15 to Rs 16 per share on November 1 according to multiple websites which monitor the movement of unlisted shares on the grey market. Based on the premium, shares of the fintech company can list at Rs 116 apiece with potential listing gains of 16 per cent.

Groww IPO: Offer Size, Listing Date, Price Band 

Groww IPO offer size aggregates to Rs 6,632.3 crore. The fintech company's issue consists of a fresh issue of 106 million shares aggregating to Rs 1,060 crore and an offer for sale of 557.2 million shares aggregating to Rs 5,572.3 crore.

Groww IPO price band has been fixed at Rs 95 to Rs 100 per share. The minimum lot size to apply for Groww IPO for retail investors has been set at 1 lot consisting of 150 shares aggregating to a minimum investment of Rs 15000.

The basis of allotment for Groww IPO is expected to be determined on November 10. Once the share allotment status of Groww IPO is decided, successful bidders will receive shares of Groww in their demat accounts on November 11. Groww shares are slated to list on the BSE and NSE. Groww IPO listing date is November 12.

Groww: Key Financials 

Groww Ltd's total income for the June quarter of FY25 stood at Rs 948.47 crore, the company's profit-after-tax stood at Rs 78.92 crore, and the company's net worth stood at Rs 378.37 crore. The fintech company's net worth stood at Rs 5,995.45 crore.

Groww's total income increased by over 45 per cent to Rs 4061.65 crore in the financial year ended March 31, 2025 compared to Rs 2795.99 crore in the preceding fiscal. The company's profit-after-tax for FY 2024-25 stood at Rs 1,824.37 crore compared to a net loss of Rs 805.45 crore. The net worth of the fintech company stood at Rs 4,855.35 crore in FY25 increased by over 90 per cent compared to Rs 2542.64 crore in the preceding fiscal.

Groww: Business Model

Groww operates as a direct-to-customer digital investment platform. The company seeks to offer wealth creation opportunities to customers via financial products and services. The company mentioned in its RHP that it is India's largest and fastest-growing investment platform in terms of active users on NSE as of June 30, 2025. The platform provided by the fintech firm allows users to invest and trade in stocks (including via IPOs), derivatives, bonds, mutual funds (including Groww Mutual Fund) and other products. Groww also provides users with a margin trading facility.

Groww's business model is a "freemium" model that attracts users with commission-free investments in direct mutual funds and generates revenue through a variety of other services. Some of the company's revenue streams include brokerage and transaction fees earned from trading in stocks, derivatives, and IPOs, distribution fees or commissions from selling mutual funds and bonds, interest income from margin trading and personal loans.

Groww: Competitors

Some of the key competitors of Groww in India include Angel One Ltd, Motilal Oswal Financial Services Ltd, 360 One WAM Ltd, Nuvama Wealth Management Ltd and Prudent Corporate Advisory Services Ltd. Global peers of the fintech company include Robinhood Markets, Inc and Interactive Brokers Group Inc. The company also competes with similar digital first platforms like Upstox Securities, XP Inc. and Zerodha.

Groww IPO: Should You Apply?

Before you consider applying for Groww IPO, it is important to know these key strengths and risks related to the public issue:

Groww's business faces these risks as per the company's RHP:

• Groww mentioned in its RHP that any major downturn or disruption in the financial market can negatively affect the company's business and financial condition.

• Groww mentioned in its RHP that it derived 84.5 per cent and 79.49 per cent of its revenue from operations from its broking services in Fiscal 2025 and in the three months ended June 30, 2025, respectively. Thus any downturn in customers' willingness to use the broking services can adversely impact the business.

• The fintech company mentioned in its RHP that its business operates in a highly competitive environment, including competition from advanced innovations and technologies such as artificial intelligence and machine learning. Inability on the company's part to effectively compete with existing or new market participants can negatively affect the company's business and financial condition.

Here's a look at some of the key strengths of Groww according to the company's RHP:

• The fintech company claims in its RHP that 'Groww' is a well-known and preferred brand for investing across cities, towns and villages in India. According to the RHP, the company has active users in 98.36 per cent of pin-codes in India, as of June 30, 2025.

• Groww claims to have an in-house technology stack to deliver a differentiated experience at low cost. This helps the company in handling approximately 50 million users simultaneously and executing approximately 50 million orders per day. 

• The fintech company claims that it has strong execution, delivering growth and profitability via a technology-led and asset-light model. The company claims that its 'adjusted cost to operate' is largely fixed in nature and has declined as a percentage of revenue from operations from 26.32 per cent in Fiscal 2023 to 13.77 per cent in Fiscal 2025. A decline in the 'adjusted cost to operate' generally indicates improved operational efficiency and increased profitability. 

Groww IPO: Objective

Billionbrains Garage Ventures Ltd plans to use the funds raised via its public issue to set up cloud infrastructure. A portion of the funds will also be used for brand building and conducting performance marketing activities. The fintech firm will also invest a portion of the money raised via the public issue for investment in its subsidiaries GCS, an NBFC and GIT. The proceeds will also be used to fund inorganic growth through unidentified acquisitions and general corporate purposes.