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Groww, one of India's largest stock broking platforms, has launched its initial public offering (IPO) today. The public issue will be open for subscription till November 7. Billionbrains Garage Ventures Pvt Ltd, the parent company of Groww, has fixed a price band of ₹95-100 per share for its ₹6,632 crore IPO. At the upper end of the price band, the IPO values the company at over ₹61,700 crore. As of June 2025, Groww held a 26.27% market share with 12.6 million active clients. The company reported a net profit margin of 44% on revenue of ₹4,056 crore in FY25. Analysts have pointed out the strengths of Groww's mobile-first digital platform and proprietary technology infrastructure that enable efficient service delivery and cost management. Despite its strengths, Groww's IPO comes with some risks. These include regulatory changes in derivatives trading and brokerage fee structures, dependence on retail investor participation, and high technology maintenance requirements. In the gray market, Groww shares were quoting at a premium of around ₹14.5 today, indicating an expected listing gain of about 14.5%. However, GMP is subject to change based on the response the IPO receives. The allotment of shares for the Groww IPO will be finalized on November 10. The shares are expected to list on the BSE and NSE on November 12. The issue is being managed by Kotak Mahindra Capital, JP Morgan India, Citigroup Global Markets India, Axis Capital, and Motilal Oswal Investment Advisors.
