Copyright thehindubusinessline
The initial public offering of Billionbrains Garage Ventures, the parent company of stock broking firm Groww, closed with a subscription 17.60 times on Friday, as all category of investors shown keen interest. The qualified institutional buyers (QIBs) was subscribed 22.02 while the portion for non-institutional investors received bids for 14.20 and retail investors 9.43 times. The IPO received bids for about 641.87 crore shares against 36.48 crore shares on offer, according to details available with the exchanges. The ₹6,632-crore IPO came out with a price band of ₹95-100. The IPO comprised a fresh issue of ₹1,060 crore and an offer-for-sale (OFS) component of 55.72 crore equity shares worth ₹5,572 crore . The company, which is backed by marquee investors such as Peak XV, Tiger Capital, and Microsoft CEO Satya Nadella, plans to use proceeds from the IPO to invest in technology development and business expansion. As part of IPO, Billionbrains Garage Ventures garnered a little over ₹2,984 crore from anchor investors. From the proceeds, ₹225 crore will be used for brand building and performance marketing activities, ₹205 crore will be invested in Groww Creditserv Technology Pvt Ltd (GCS), its augment its NBFC capital base, ₹167.5 crore into Groww Invest Tech Pvt Ltd (GIT) to fund its margin trading facility business and ₹152.5 crore to strengthen cloud infrastructure. The rest will be utilised for funding inorganic growth through acquisitions and for general corporate purposes. Groww will make its stock market debut on November 12. Published on November 7, 2025
