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Groww IPO Subscription Day 1: Billionbrains Garage Ventures, the parent company of Groww, has raised Rs 2,984.5 crore from 102 institutional investors through its anchor book on November 3, ahead of the opening of its Rs 6,632-crore IPO. Groww IPO: Subscription Dates And Price Band The public issue will be open for subscription from November 4 to November 7, with November 5 being a market holiday for Prakash Gurpurb Sri Guru Nanak Dev. The price band has been set at Rs 95–100 per share. The offering includes a fresh issue of Rs 1,060 crore, while existing investors — including Peak XV Partners, YC Holdings, Tiger Global, Sequoia Capital, Alkeon Capital Management and Ribbit Capital — will sell 55.72 crore shares worth Rs 5,572.3 crore at the upper price band. Groww IPO: Anchor Investment The company allocated over 29.84 crore shares to anchor investors at ₹100 per share. Prominent global investors such as Goldman Sachs, Morgan Stanley, Government of Singapore, Monetary Authority of Singapore, Abu Dhabi Investment Authority, Amundi Funds, Societe Generale, Ashoka WhiteOak, Prudential Hong Kong, Eastspring Investments, and Wellington Management participated. Of the total anchor allocation, 13.89 crore shares (46.6%) worth ₹1,389.8 crore were allotted to 17 domestic mutual funds across 54 schemes. Participants included HDFC AMC, Kotak Mahindra AMC, SBI Mutual Fund, Nippon India Mutual Fund, Axis MF, Mirae Asset, Aditya Birla Sun Life AMC, Motilal Oswal AMC, Franklin Templeton, Tata MF, HSBC MF, Trust Mutual Fund, and Mahindra Manulife. Groww IPO: Objective Groww will use Rs 152.5 crore from the fresh issue for cloud infrastructure and Rs 225 crore for brand building and performance marketing. Additionally, Rs 205 crore will fund the capital base of NBFC subsidiary GCS (Groww Creditserv Technology), Rs 167.5 crore will support margin trade funding at subsidiary GIT (Groww Invest Tech), and the balance will go toward acquisitions and general corporate purposes. Founded by former Flipkart colleagues Lalit Keshre, Harsh Jain, Ishan Bansal, and Neeraj Singh, Groww offers multiple financial products and claims leadership in active retail investors on NSE. The platform competes with players such as Angel One, Motilal Oswal Financial Services, 360 ONE WAM, and Nuvama Wealth Management. For Q1 FY26, it posted a profit of Rs 378.4 crore, up from Rs 338 crore a year earlier, while revenue declined to Rs 904.4 crore from Rs 1,000.8 crore. Groww IPO: Share Allotment And Listing Date IPO allotment will be finalised on November 10, and 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. Groww IPO GMP: The grey market premium (GMP) for the Groww IPO stands at Rs 14 today. Based on the upper end of the price band at Rs 100 and the current GMP, the estimated listing price is around Rs 114 per share, implying a potential 14% listing gain. The GMP reflects investor willingness to pay above the issue price. Groww IPO Allocation Structure: The IPO has allocated not less than 75% of shares to qualified institutional buyers (QIBs), up to 15% to non-institutional investors (NIIs), and up to 10% to retail investors. Groww IPO Financials: Groww reported a 119% YoY jump in revenue to Rs 3,145 crore in FY24, while operating profit increased 17% to Rs 535 crore. A one-time tax charge of Rs 1,340 crore linked to the company’s relocation from the US to India led to a net loss of Rs 805 crore for the fiscal year. Groww IPO Analyst View: According to Anand Rathi Research, at the upper price band, Groww is priced at 33.8x FY25 P/E with a post-issue market cap estimate of Rs 61,736 crore. The firm aims to strengthen its brand through trust, transparency, and financial inclusion, while diversifying its offerings into MTF, commodity derivatives, API trading, wealth management, LAS, and bonds. The brokerage notes that the issue appears fully priced and has assigned a “Subscribe – Long Term” rating.
