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Groww IPO
Price Band
₹95.0–100.0
Issue Size
₹6632.3 Cr
Lot Size
150 shares
Min Investment
₹15,000
GMP
+₹5.0 (5.0%)
Issue Price
₹100.0
Subject to Sauda
₹600
Paid only if allotted
Groww IPO AI Summary
- Groww IPO is listed on BSE, NSE in the Stockbroking & Allied sector.
- Price band: ₹95.0–₹100.0 per share, lot size 150 shares (min. investment ₹15,000).
- Subscription window: 04 Nov–07 Nov 2025, listing on 12 Nov 2025.
- Current GMP is +₹5.0 (5.0%), an estimated listing price of ₹105 — unofficial and can change daily.
Groww is a digital investment platform aiming to provide various financial services to investors. The IPO aims to raise ₹6,632.3 Cr, with an issue price of ₹100.0 per share. The company has shown significant growth in total income and profitability in recent periods, although recent figures indicate some fluctuations.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Groww IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 07 Nov 2025 — not a current signal.
Reviewers are split — see individual calls below.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Groww IPO Grey Market Premium (GMP) Today
GMP
+₹5.0
GMP %
+5.0%
Est. Listing
₹105.0
Updated: 25 Jul 2026 14:15
About the Company
Billionbrains Garage Ventures Limited was incorporated on January 9, 2018. It is the parent company of Groww, a Bengaluru-based direct-to-customer (D2C) digital investment platform that provides investors wealth creation opportunities through multiple financial products and services. The company offers a platform to invest in stocks, directly-only mutual funds, IPOs, ETFs, NFOs, bonds, and digital gold in the form of gold ETFs and gold funds. Further, traders can use the Groww app to trade in F&O, commodities, and intraday. For advanced traders, Groww has introduced 915 by Groww, a pro-trading web-based terminal for high-frequency trading. Groww also offers value-added services such as Margin Trading Facility (MTF), APIs for algorithmic trading, and credit solutions. Business Model Growing its customer base and Expanding its relationship with customers Products & Services: Broking services which includes Stocks and Derivatives Products which includes Mutual Funds and Groww AMC Margin Trading Facility (MTF) & Credit Solution As of June 30, 2025, the company had 1415 employees. Competitive Strengths: “Groww” is a well-known and preferred brand for investing across cities, towns and villages in India. High customer retention, engagement and price in-elasticity. Customer-friendly design for enhancing investing experience. In-house technology stack to deliver a differentiated experience at low cost. Entrepreneurial and ownership-driven culture Strong execution delivering growth and profitability
Company Financials (₹ Cr)
As of 2025-06-30
| Period Ended | 30 Jun 2025 | 31 Mar 2025 | 30 Jun 2024 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|---|
| Assets | 12,713.18 | 10,077.31 | 10,819.10 | 8,017.97 | 4,807.78 |
| Total Income | 948.47 | 4,061.65 | 1,047.58 | 2,795.99 | 1,260.96 |
| Profit After Tax | 378.37 | 1,824.37 | 338.01 | -805.45 | 457.72 |
| EBITDA | 418.75 | 2,371.01 | 482.66 | -780.88 | 398.78 |
| NET Worth | 5,995.45 | 4,855.35 | 2,886.28 | 2,542.64 | 3,316.75 |
| Reserves and Surplus | 5,506.78 | 3,251.92 | 2,821.41 | 2,477.76 | 4,445.63 |
| Total Borrowing | 324.08 | 351.99 | 117.66 | 24.06 |
Key Ratios
EPS
₹3.01
NAV
₹8.50
RoNW
37.57%
P/B Value
11.76
P/E Ratio
33.26
Market Cap
₹61735.97 Cr
PAT Margin
44.92%
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Prudent Corporate Advisory Services Limited | 161.25 | 29.3% | 58.92 | 47.25 | 47.25 |
| Nuvama Wealth Management Limited | 979.11 | 28.22% | 26.85 | 276.66 | 268.54 |
| 360 One Wam Limited | 188.89 | 14.37% | 45.2 | 27.14 | 26.08 |
| Motilal Oswal Financial Services Limited | 185.24 | 22.64% | 24.88 | 41.83 | 41 |
| Angel One Limited | 623.72 | 20.85% | 19.8 | 130.05 | 126.82 |
| Billionbrains Garage Ventures Ltd. This IPO | 8.89 | 37.57% | — | 3.34 | 3.19 |
Promoters
Lalit Keshre, Harsh Jain, Ishan Bansal and Neeraj Singh
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Expenditure towards cloud infrastructure 152.50 2 Brand building and performance marketing activities 225.00 3 Investment in one of Material Subsidiaries, GCS, an NBFC, for augmenting its capital base 205.00 4 Investment in one of Material Subsidiaries, GIT, for funding its MTF business 167.50 5 Funding inorganic growth through unidentified acquisitions and general corporate purposes 265.98 6 Issue Expenses 269.79 Total 1,285.78
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹1,260.96 Cr in the fiscal year ending March 31, 2023, and decreased to ₹2,795.99 Cr by March 31, 2024, before dropping again to ₹1,047.58 Cr by June 30, 2024. This was followed by a significant rise to ₹4,061.65 Cr by March 31, 2025, and a decrease to ₹948.47 Cr by June 30, 2025, though this is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit after tax was ₹457.72 Cr for the fiscal year ending March 31, 2023, which then turned negative at -₹805.45 Cr by March 31, 2024. It recovered to ₹338.01 Cr by June 30, 2024, and increased to ₹1,824.37 Cr by March 31, 2025, before falling to ₹378.37 Cr by June 30, 2025, though this is a 9-month figure, not a full year, so isn't directly comparable.
Valuation
At the issue price of ₹100.0, Groww's implied P/E ratio is approximately 33.26, compared to peers trading at P/E ratios ranging from 19.8 to 58.92.
Grey Market Premium, Explained
The grey market refers to the unofficial trading of shares before they are listed on the stock exchange. The Grey Market Premium (GMP) indicates the expected listing price of an IPO based on demand in the grey market. A positive GMP suggests that investors anticipate a higher listing price than the issue price.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall investment strategy and risk tolerance. It's essential to consider the company's growth prospects and market conditions.
Who May Want to Wait
Investors who are risk-averse or prefer stable, established companies may want to avoid IPOs like this, which can be subject to market fluctuations and uncertainties.
IPO Timeline, Explained
The IPO opens for subscription on November 4, 2025, and closes on November 7, 2025. Allotment of shares is expected on November 10, 2025, with the listing date set for November 12, 2025.
Listing Gains — The Risk
Listing gains are the profits made by investors when the stock price rises on the first day of trading. However, these gains are not guaranteed, and stock prices can be volatile. Investors should be aware that market conditions can significantly impact listing-day performance.
This evaluation is generated from Groww's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Groww IPO GMP today?
Groww IPO GMP today is +₹5.0 (5.0%), indicating an estimated listing price of ₹105. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Groww IPO?
The price band of Groww IPO is ₹95.0–₹100.0 per share.
When does Groww IPO open and close?
Groww IPO opens on 04 November 2025 and closes on 07 November 2025.
When does Groww IPO list on the stock exchange?
Groww IPO listed on 12 November 2025 at ₹105.0.
What is the lot size for Groww IPO?
The lot size for Groww IPO is 150 shares, requiring a minimum investment of ₹15,000.
What is the lot size for this IPO?
The lot size for the Groww IPO is 150 shares.
What is the minimum investment required?
The minimum investment required is ₹15,000.
What is the price band for the IPO?
The price band for the Groww IPO is ₹95.0 to ₹100.0.
When does the IPO open and close?
The IPO opens on November 4, 2025, and closes on November 7, 2025.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of the IPO based on demand in the grey market.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
04 Nov 2025
Close
07 Nov 2025
Allotment
10 Nov 2025
Listing
12 Nov 2025
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