Groww IPO: Price, GMP, Analysis, And Details

Groww IPO - Company Analysis

Groww IPO, a Mainboard IPO, is a bookbuilding issue of Rs. 6,632.30 Cr by BillionBrains Garage Ventures Ltd., founded in 2016, and is a Bengaluru-based fintech platform catering to retail investors and offering equities, mutual funds, IPOs, digital gold, derivatives, and lending. 

Since then, the platform has scaled rapidly in terms of active client base, broadening its product set (including a margin trading facility, NBFC arm, and credit services) and preparing itself for the rising “financialisation” of Indian retail investors.

Groww IPO Details

The Groww Ltd IPO open date is from Nov 04 to Nov 07, with IPO allotment on Nov 10, refund initiation on Nov 11, 2025.

The Rs. 6,632.30 Cr mainline IPO comprises a combination of fresh issue of 10.60 crore shares (Rs. 1060 Cr) and an offer for sale of 55.72 crore shares (Rs. 5,572.30 Cr).

The Groww IPO listing date might be on Wednesday, 12 November 2025, and it will be listed at the BSE and NSE. The Groww IPO price band is Rs. 95 to Rs. 100 for each Share. 

Events	Date
IPO Opening Date	November 04, 2025
IPO Closing Date	November 07, 2025
IPO Allotment Date	November 10, 2025 (Tentative)
Refund Initiation	November 11, 2025 (Tentative)
Tentative IPO Listing Date	November 12, 2025

 

Industry Outlook

If you want to apply for the IPO, click to open a Demat Account.

 

 

Company Financial 

(Amount in Cr)

 

Period Ended	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	10,077.31	8,017.97	4,807.78
Total Income	4,061.65	2,795.99	1,260.96
Profit After Tax	1,824.37	-805.45	457.72
EBITDA	2,371.01	-780.88	398.78
Net Worth	4,855.35	2,542.64	3,316.75
Reserves & Surplus	3,251.92	2,477.76	4,445.63
Total Borrowing	351.99	24.06	—

 

Cash Flows

The cash flows for various activities are shown below:

(Amount in Mn)

Net Cash Flow In Multiple Activities	FY25	FY24	FY23
Net Cash Flow Operating Activities	(9,621.60)	8,849.71	5,478.18
Net Cash Flow Investing Activities	1,396.77	(9,110.30)	(3,706.49)
Net Cash Flow Financing Activities	8,756.55	37.43	(54.55)

 

Revenue Bifurcation 

 

(Source RHP)

The Objective of The Issue

• For cloud infrastructure. ~ Rs. 152.50 Cr.

• For performance marketing and brand development. ~ Rs. 225.00 Cr.

• An investment in GCS, an NBFC, one of the Material Subsidiaries, to increase its capital base. ~ Rs. 205 Cr.

• Investing in GIT, one of the Material Subsidiaries, to finance its MTF business. ~ Rs.  167.50 Cr.

• Financing inorganic development through undisclosed acquisitions and general corporate objectives.
  
  

Click to check the IPO application status.

Listed Peers of Groww  Ltd.

Company Name	Face Value (₹)	P/E (x)	EPS (₹)
Angel One Ltd	10	19.80	130.05
Motilal Oswal Financial Services Ltd.	1	24.88	41.83
360 One WAM Ltd	1	45.20	27.14
Nuvama Wealth Management Ltd	10	26.85	276.66
Prudent Corporate Advisory Services Ltd	5	58.92	47.25

 

Valuation

 

KPI	Values
RoNW	37.57%
PAT Margin	44.92%
EBITDA Margin	59.11%
Price to Book Value	11.76

 

 

 

Evaluation of P/E Ratio

The company's IPO price of Rs. 100 corresponds to a P/E multiple of 3.34x based on FY25 EPS of Rs. 29.94.

Explore the Orkla India IPO.

IPO's Strengths

• Rapid expansion and a growing active customer base. 

• Expected turnaround to profitability in FY25 shows operational leverage. 

• Diverse and expanding product suite (equities, mutual funds, margin trading, and credit). 

• Strategy benefits from the growing participation of retail investors and digital adoption.  

 

IPO Weaknesses

• Revenue and profitability are still driven by market activities and retail sentiment (broking/transactions). 

• Competing fintech/broking landscape with traditional players & newcomers. 

• Risks related to broking, credit, and NBFC segment regulations. 

• The previous financial year (FY24) loss raises questions of consistency.

 

Groww IPO GMP 

Groww IPO GMP today is Rs. 10.5 as of 30 Oct 2025, while writing this information.

Groww Limited IPO Summary

IPO Opening & Closing Date	Nov 04, 2025 to Nov 07, 2025
Face Value	Rs. 2 per Share
Issue Price	Rs. 95 to Rs. 100
Lot Size	150 Shares
Issue Size	66,32,30,051 Shares (Rs. 6,632.30 Cr)
Offer for Sale	55,72,30,051 Shares (Rs. 5,572.30 Cr)
Fresh Issue	10,60,00,000 Shares (Rs. 1,060 Cr)
Listing At	BSE, NSE
Issue Type	Book Built Issue IPO
Registrar	MUFG Intime India Pvt. Ltd.

 

 

Groww IPO Lot Size

The Billionbrains Garage Ventures Ltd. IPO allows retail investors to invest in a minimum and maximum of 1 Lot (150 Shares) amounting to Rs. 15000 and 13 Lots (1950 Shares) amounting to Rs. 195000, respectively, while for S-HNI investors, the minimum Lot is 14 (2100 Shares) amounting to Rs. 210000.

Minimum Lot Investment (Retail)	1 Lot
Maximum Lot Investment (Retail)	13 Lots
SHNI (Minimum)	14 Lots
SHNI (Maximum)	66 Lots
BHNI (Minimum)	67 Lots

 

Groww IPO Reservation

Institutional Share Portion	75%
Retail Investors' Share Portion	10%
Non-Institutional Shares Portion	15%

 

Groww IPO Allotment Status

To check the Groww IPO allotment status, visit the official Registrar’s website or the BSE website. Below are the website links for you.

Using BSE Website - ​BSE IPO allotment status

 

Promoters And Management of Groww  Ltd.

• Lalit Keshre

• Harsh Jain

• Ishan Bansal

• Neeraj Singh.

Pre-Issue Promoter Shareholding	28%
Post-Issue Promoter Shareholding	-

 

Groww IPO Lead Managers

• Kotak Mahindra Capital Company Limited.

• J.P. Morgan India Private.

• Citigroup Global Markets India Private Limited.

• Axis Capital Limited.

• Motilal Oswal Investment Advisors Limited.

 

Dividend Policy

The company has not paid a dividend in the past three financial years.

Conclusion

Groww IPO offers a growth-led fintech story: a fully established brand, increasing scale, recent profitability, and a wider range of products. Investors should take care of the valuation of the IPO, an appreciation of the dependence upon regulatory risks and market activity, and the knowledge of the cyclical character of broking/fintech incomes. Lastly, never decide to invest without having the proper investigation on your own or consulting one of the licensed financial experts.

 

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

To Read the Prospectus of the Company Click Here to Download the DRHP.

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DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.