Groww's Parent Company Billionbrains Garage Ventures Announces IPO Opening Next Week, Price Band Set at Rs 95-100

Groww Parent Company Billionbrains Garage Ventures Announces IPO Details.

Billionbrains Garage Ventures Limited, the company behind the popular online investment platform Groww, is set to launch its Initial Public Offering (IPO) next week. The subscription for the IPO will commence on Tuesday, November 4, and conclude on Friday, November 7. The company has established a price band of Rs 95 to Rs 100 per share for its offering.

The IPO comprises a fresh issue of shares amounting to Rs 10,600 million, along with an offer for sale of up to 557,230,051 equity shares. Investors are required to bid for a minimum of 150 shares.

Following the allocation, the company's shares will be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), with NSE designated as the primary exchange.

Kotak Mahindra Capital Company Limited, JP Morgan India Private Limited, Citigroup Global Markets India Private Limited, Axis Capital Limited, and Motilal Oswal Investment Advisors Limited are managing the IPO.

The IPO follows SEBI's regulations, reserving at least 75% for Qualified Institutional Buyers (QIBs), including a portion for anchor investors. Non-Institutional Bidders will get up to 15%, and Retail Individual Investors will receive the remaining 10%.

Impact This IPO is significant as it brings a prominent fintech player to the public markets. It could attract substantial investor interest, potentially boosting the valuation sentiment for other digital financial services companies in India. The success of this IPO could influence future fundraising strategies for tech-focused IPOs. The detailed allocation structure ensures participation from various investor classes. Rating: 7/10.

Difficult Terms: Initial Public Offering (IPO): The first time a private company offers its shares to the public, allowing them to be traded on a stock exchange. Fresh Share Sale: When a company issues new shares to raise capital. Offer for Sale (OFS): When existing shareholders sell a portion of their stake. Price Band: The range within which bids can be placed for shares in an IPO. Anchor Investors: Large institutional investors who commit to buying shares before the IPO opens to the public. Qualified Institutional Buyers (QIBs): Entities like mutual funds, FIIs, and banks that are well-versed in financial markets. Non-Institutional Bidders (NIBs): High Net Worth Individuals (HNIs) and corporate bodies applying for shares above the retail investor limit. Retail Individual Investors (RIIs): Individual investors applying for shares up to a certain limit. Book Building Process: A method for IPOs where the price is determined based on investor demand. SEBI: Securities and Exchange Board of India, the regulatory body for securities markets in India. ICDR: Issue of Capital and Disclosure Requirements, SEBI regulations governing public issues. SCRR: Securities Contracts (Regulation) Rules, rules governing trading of securities.