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Groww
Price Band
₹95.0–100.0
Issue Size
₹6632.3 Cr
Lot Size
150 shares
Min Investment
₹15,000
GMP
info
+₹5.0 (5.0%)
Issue Price
₹100.0
Subject to Sauda
info
₹600
Paid only if allotted
Groww IPO Review — Should You Apply?
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.
calendar_month Important Dates
bar_chart Subscription Status
Subscription data unavailable
trending_up Grey Market Premium (GMP)
GMP
+₹5.0
GMP %
+5.0%
Est. Listing
₹105.0
schedule Updated: 25 Jul 2026 14:15
Share GMP:
business 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
payments 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
info Issue Details
pie_chart Investor Allocation
Registrar
Lead Managers / Book Running
timeline IPO Timeline
Open
04 Nov 2025
Close
07 Nov 2025
Allotment
10 Nov 2025
Listing
12 Nov 2025