Groww Set to Launch ₹6,632 Crore IPO on November 4, Targets ₹61,736 Crore Valuation

Billionbrains Garage Ventures Ltd., operating under the brand name Groww, is preparing to launch its Initial Public Offering (IPO) worth ₹6,632 crore. The IPO is scheduled to open for anchor investors on November 3 and for the public on November 4, with subscription closing on November 7. The company has established a price band of ₹95 to ₹100 per share.

Groww is targeting a substantial valuation of around ₹61,736 crore, which, if achieved, would position it as a larger entity than its publicly listed competitors, including Angel One, Motilal Oswal Financial Services, 360 ONE WAM, and Nuvama Wealth Management.

The IPO comprises a fresh issue of shares aggregating ₹1,060 crore, alongside an offer for sale where existing investors will sell 55.72 crore shares. The net proceeds from the fresh issuance are earmarked for various strategic purposes: ₹152.5 crore for cloud infrastructure, ₹225 crore for brand building and performance marketing, and the remainder for investments in subsidiaries. These include ₹205 crore for Groww Creditserv Technology Pvt. Ltd. (an NBFC) to bolster its capital base, and ₹167.5 crore for Groww Invest Tech Pvt. Ltd. to finance its margin trading facility (MTF) business.

Groww has established itself as one of India's largest stockbrokers, holding a significant 26.3% market share of active NSE clients as of June 2025, serving 12.6 million active clients. The company has also demonstrated strong growth, accounting for 45.5% of net client additions to the NSE in the twelve months leading up to June 2025.

Financially, Groww turned profitable in FY25, reporting a net profit of ₹1,824.4 crore. Its adjusted EBITDA margins have remained robust, around 56%.

Impact This IPO is highly significant for the Indian stock market, especially the fintech and broking sectors. It introduces a major, well-backed player to the public domain, potentially setting new benchmarks for valuations and investor interest in digital financial platforms. Groww's expansion, fueled by IPO funds, will intensify competition among stockbrokers and other financial service providers. Rating: 8/10.

Heading: Difficult Terms Initial Public Offering (IPO): The process where a private company offers its shares to the public for the first time, allowing it to be traded on a stock exchange. Anchor Investors: Large institutional investors who commit to buying a significant portion of an IPO before it opens to the general public, providing stability and confidence to the issue. Price Band: The range set by the company within which bids for its shares can be placed during an IPO. Offer for Sale (OFS): An option where existing shareholders of a company sell their shares to new investors, rather than the company issuing new shares. NBFC (Non-Banking Financial Company): A financial institution that provides services similar to a bank but does not possess a banking license. It can offer loans, credit facilities, and other financial services. MTF (Margin Trading Facility): A service provided by brokers that allows investors to purchase shares by borrowing funds from the broker, using their existing portfolio as collateral. EBITDA: Earnings Before Interest, Taxes, Depreciation, and Amortization. It is a measure of a company's operating performance, showing profitability before accounting for financing, tax, and non-cash expenses. PAT (Profit After Tax): The net profit of a company after all expenses, including taxes, have been deducted.