Groww (Billionbrains Garage Ventures) IPO
IT - Software
Price Band
₹95 – ₹100
Lot Size
150
Minimum Bid Quantity
150
Minimum Investment
₹15000
Issue Size
₹6632Cr
Opens
2025-11-04
Closes
2025-11-07
Listing
12-11-2025
Subscription Status
Qualified Institutional Buyers
22.02 x
Non-Institutional Investor
14.2 x
Retail Individual Investor
9.43 x
Total
17.6 x
IPO Details
Issue Type
BB
Face Value
₹2
Tick Size
1
ISIN
INE0HOQ01053
Pre-Apply Available
No
Daily Bidding Time
10:00:00 - 17:00:00
About the Company
Groww is a direct-to-customer digital investment platform that provides multiple financial products and services. Groww is India's largest and fastest growing investment platform by active users on NSE as of June 30, 2025, according to the Redseer Report (see "Industry overview", para 1 at page 209 in RHP). With Groww, customers can invest and trade in stocks (including via IPOs), derivatives, bonds, mutual funds and other products. They can also avail margin trading facility and personal loans. Groww provides customer friendly design on the Groww app and website and deploy an in-house technology platform to enhance the investing experience. For further details, see "RHP". Disclaimer: https://groww.in/pages/ipo-disclaimer
Pros
- • As per the RHP, Groww is a well-known and preferred brand for investing across cities, towns, and villages in India. Its NSE active clients increased from 5.37 million in March 2023 to 12.58 million in June 2025, while its market share among NSE active clients rose from 15.09% to 26.27% over the same period.
- • Groww’s revenue from operations grew at a CAGR of 84.88% from Fiscal 2023 to Fiscal 2025.
- • The company's brand recall is demonstrated by organic customer acquisition. For example, in the three months ended June 30, 2025 and 2024, Fiscals 2025, 2024 and 2023, 83.16%, 82.96%, 83.63%, 81.10% and 81.03% customers, respectively, were acquired organically. Groww had ~25.8% market share in net new demat account additions from June 2024 to June 2025.
Cons
- • As per RHP, Groww derived 84.50% and 79.49% of the revenue from operations from Broking services in Fiscal 2025 and in the three months ended June 30, 2025, respectively. Any downturn in customers’ willingness to use the Broking services could have an adverse impact on the business, financial condition and cash flows.
- • The business is subject to evolving regulations. For instance, SEBI’s October 2024 derivatives framework impacted transaction volumes, leading to a reduction in active broking users from 7.24 million in Q1 FY25 to 6.12 million in Q1 FY26.
- • Groww incurred losses in Fiscal 2024 and generated profits in Fiscal 2023, Fiscal 2025 and in the three months ending June 30, 2025 and 2024, respectively. If Groww is unable to generate adequate revenue growth and manage its expenses and cash flows as it grows, it may not be able to sustain its profitability.
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