Groww IPO 2025: Complete Guide to Price, Dates, Allotment, and Investment Details

Introduction to Groww IPO

The Groww IPO is one of the most anticipated public offerings in India’s fintech sector for 2025. Groww, officially known as Billionbrains Garage Ventures Limited, is preparing to launch its Initial Public Offering worth ₹6,632.30 crore, making it one of the largest IPOs in the investment platform space. The Groww IPO opens for subscription on November 4, 2025, and will close on November 7, 2025, giving investors a four-day window to participate in this exciting opportunity.

Groww has become India’s largest investment platform by NSE active users as of June 2025, serving millions of retail investors across the country. The Groww IPO represents a significant milestone not just for the company but for India’s growing digital investment ecosystem. With backing from prominent investors including Microsoft CEO Satya Nadella, Peak XV Partners, Tiger Global, and Ribbit Capital, the Groww IPO has generated substantial interest among retail and institutional investors alike.

As more Indians embrace digital investing through platforms like Groww, understanding the difference between trading and investing becomes crucial. Those interested in the Groww IPO should familiarize themselves with fundamental investment concepts and learn about stock trading vs stock investing to make informed decisions about their participation strategy.

Groww IPO Overview

The Groww IPO is a 100% book-built issue comprising both a fresh issue and an offer for sale (OFS). The total size of the Groww IPO is ₹6,632.30 crore, making it one of the most substantial public offerings in the Indian fintech space. The Groww IPO will list on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), providing broad market access to investors.

The Groww IPO consists of a fresh issue of ₹1,060 crore (10.60 crore equity shares) and an offer for sale of ₹5,572.30 crore (55.72 crore equity shares). The fresh issue proceeds will be used for strategic growth initiatives, while the OFS allows early investors to partially exit their positions. The Groww IPO valuation at the upper price band is approximately ₹92,074 crore, positioning the company among India’s most valuable fintech startups.

Groww IPO Key Details

Here are the essential details of the Groww IPO that every investor should know:

Groww IPO Price Band and Lot Size

The Groww IPO has set a price band of ₹95 to ₹100 per equity share. This narrow price range indicates confidence in the company’s valuation and reduces uncertainty for potential investors. The Groww IPO lot size is 150 shares, which means investors must apply for a minimum of 150 shares.

Groww IPO Investment Requirements

Based on the Groww IPO price band and lot size, here are the investment amounts for different application quantities:

The Groww IPO minimum investment of ₹15,000 makes it accessible to retail investors, aligning with the company’s mission of democratizing investing for all Indians.

Groww IPO Dates and Timeline

The Groww IPO follows a structured timeline designed to provide adequate opportunity for investor participation:

The Groww IPO subscription period runs from November 4 to November 7, 2025, giving investors four working days to submit their applications. The Groww IPO listing is expected on November 12, 2025.

About Groww Company

Groww is India’s leading investment platform that has revolutionized how millions of Indians invest in financial markets. Founded by Lalit Keshre, Harsh Jain, Ishan Bansal, and Neeraj Singh, Groww has become the go-to platform for retail investors, particularly first-time investors and millennials.

Groww Business Model

The Groww IPO company operates through multiple revenue streams:

• Equity Trading: Commission-based revenue from stock trading on NSE and BSE exchanges
• Derivatives Trading: Futures and options trading services
• Mutual Fund Distribution: Distribution fees from asset management companies
• IPO Services: Facilitating retail investor participation in IPOs
• Commodity Trading: Trading in gold, silver, crude oil, and agricultural commodities
• Fixed Income Products: Distribution of bonds and government securities
• Exchange Traded Funds (ETFs): Platform for domestic and international ETF investing
• Margin Trading Facility (MTF): Leveraged trading through subsidiary GIT
• API Services: Algorithmic trading for advanced traders

Groww Market Position

As of June 2025, Groww holds the position of India’s largest investment platform by NSE active users. The Groww IPO company has successfully onboarded millions of investors, particularly from tier-2 and tier-3 cities, through its user-friendly interface, vernacular language support, and educational content.

The platform caters to both traders seeking short-term gains and long-term investors building wealth. Understanding whether you align more with trading or investing principles can help determine how the Groww IPO fits into your portfolio strategy. For detailed insights, you can explore resources on Stock Trading vs Stock Investing: Which is Better for You in 2025.

Groww IPO Financial Performance

The Groww IPO company has demonstrated exceptional financial performance and a clear path to profitability, distinguishing it from many loss-making startups rushing to public markets.

Revenue Growth Trajectory

The Groww IPO company’s revenue from operations has grown at a remarkable CAGR of 127.70% from FY2022 to FY2025, making it one of the fastest-growing companies among the top 10 brokers. For the full fiscal year 2025, revenue stood at ₹3,901.72 crore, up from ₹2,609.28 crore in FY2024 and ₹1,141.53 crore in FY2023.

Profitability Milestones

The Groww IPO company achieved a significant turnaround in FY2025, reporting a net profit of ₹1,824.37 crore compared to a net loss of ₹805.45 crore in FY2024. This represents a 3x growth in profitability and demonstrates the company’s ability to achieve sustainable unit economics.

Company Financials – Billionbrains Garage Ventures Ltd.

Financial Information (Restated Consolidated)

The Groww IPO financial statements reveal strong fundamentals and improving profitability metrics. Here’s a comprehensive breakdown of the company’s financial performance:

Income Statement Analysis

The Groww IPO company’s revenue growth of 45% between FY2024 and FY2025, coupled with a PAT increase of 327%, demonstrates exceptional operational leverage and improving profitability.

Balance Sheet Strength

The Groww IPO company maintains a healthy balance sheet with strong net worth of ₹5,995.45 crore as of June 2025 and modest borrowings, indicating financial stability and low leverage.

Financial Performance Observations

Key Highlights for Groww IPO Investors:

1. Revenue Momentum: The Groww IPO company achieved revenue of ₹3,901.72 crore in FY2025, representing a 49.5% year-over-year growth from FY2024.
2. Profitability Turnaround: After a loss in FY2024 (due to one-time tax payment), the Groww IPO company bounced back with a profit of ₹1,824.37 crore in FY2025, demonstrating strong operational efficiency.
3. Consistent Q1 Performance: In Q1 FY26 (ending June 2025), the Groww IPO company maintained profitability with PAT of ₹378.37 crore, up 11% from ₹338.01 crore in Q1 FY25, despite a 10% revenue decline to ₹904 crore.
4. Strong EBITDA Margins: The adjusted EBITDA improved from ₹416.30 crore in FY2023 to ₹2,306.37 crore in FY2025, indicating improving operational efficiency.
5. Technology Investment: The Groww IPO company’s ongoing investment in technology reached ₹440.9 crore, accounting for 27.6% of total costs, reflecting commitment to platform enhancement.

Key Performance Indicators

The Groww IPO company’s operational metrics demonstrate market leadership and strong user engagement:

User Growth Metrics

Financial Efficiency Ratios

The Groww IPO company’s contribution margin of 85.20% is particularly impressive, indicating strong operational leverage and pricing power in the competitive brokerage industry.

Groww IPO Objectives and Fund Utilization

The fresh issue proceeds from the Groww IPO amounting to ₹1,060 crore will be utilized for the following strategic purposes:

Groww IPO Fund Allocation

Detailed Groww IPO Fund Utilization

1. Cloud Infrastructure (₹152.50 Crore): The Groww IPO funds will enhance cloud infrastructure to handle millions of daily transactions, improve system reliability, reduce latency, and support scaling operations. This investment is critical for maintaining the platform’s competitive edge in user experience.

2. Brand Building and Marketing (₹225.00 Crore): The largest allocation from the Groww IPO proceeds will go toward customer acquisition through digital marketing, television campaigns, and performance marketing initiatives. This investment aims to expand Groww’s presence in tier-2 and tier-3 cities where penetration remains low.

3. NBFC Subsidiary Capital (₹205.00 Crore): The Groww IPO will strengthen the capital base of GCS, the company’s NBFC subsidiary, enabling lending and credit product offerings. This diversification provides additional revenue streams beyond traditional brokerage.

4. MTF Business Funding (₹167.50 Crore): Investment in GIT subsidiary from the Groww IPO funds will expand the Margin Trading Facility business, catering to traders seeking leveraged exposure.

5. Acquisitions and Strategic Growth (₹310.00 Crore): The Groww IPO provides flexibility for strategic acquisitions, technology investments, and working capital needs. Groww recently acquired PayU-backed fintech platform Fisdom for around $150 million, marking its entry into wealth advisory services.

Groww IPO Share Reservation

The Groww IPO follows SEBI guidelines for share allocation across different investor categories:

Understanding Groww IPO Categories

Retail Individual Investors (RII): For the Groww IPO, retail investors are those applying for shares worth up to ₹2 lakhs. They receive 10% of the total offer with the benefit of proportionate allotment if oversubscribed.

Non-Institutional Investors (NII/HNI): High Net Worth Individuals applying for Groww IPO shares worth more than ₹2 lakhs fall into this category with 15% reservation.

Qualified Institutional Buyers (QIB): The Groww IPO reserves 75% for institutional investors including mutual funds, insurance companies, banks, and foreign institutional investors.

Groww IPO Promoter Holding

The Groww IPO promoters are the four co-founders of the company:

Groww IPO Promoter Details

The Groww IPO promoters collectively hold 27.96% stake before the offering, which will be diluted after the IPO. Each of the four co-founders is also selling 10 lakh shares through the offer for sale component of the Groww IPO.

Key Groww IPO Investors

Beyond promoters, the Groww IPO includes participation from major institutional investors:

• Peak XV Partners (formerly Sequoia Capital India): 21.6% stake
• Ribbit Capital: 14.78% stake
• Y Combinator Holdings: 13.25% stake
• Tiger Global: 6.05% stake

These investors are partially exiting through the Groww IPO OFS component while retaining significant stakes, demonstrating continued confidence in the company’s growth trajectory.

How to Apply for Groww IPO

Applying for the Groww IPO is simple and can be done through multiple channels. Here’s a step-by-step guide on how to apply for the Groww IPO:

Prerequisites for Groww IPO Application

Before applying for the Groww IPO, ensure you have:

• Valid PAN Card
• Active Demat Account
• Linked Bank Account with sufficient funds
• UPI ID (for retail applications up to ₹5 lakhs)
• Trading account with a registered broker

Methods to Apply for Groww IPO

1. Online Trading Platforms: Apply for the Groww IPO through broker apps like Zerodha, Upstox, Angel One, ICICI Direct, HDFC Securities, or other trading platforms.

2. Net Banking: Apply for the Groww IPO through your bank’s net banking portal under the investment or IPO section.

3. UPI-Based Application: Retail investors can apply for the Groww IPO using their UPI ID, which simplifies the blocking of funds.

4. Offline Application: Visit bank branches with ASBA forms to apply for the Groww IPO physically.

Step-by-Step Groww IPO Application Process

1. Log in to your broker platform or net banking
2. Navigate to the IPO section and select “Groww IPO”
3. Enter the number of lots (minimum 1 lot = 150 shares)
4. Select bid price between ₹95-₹100 or choose “Cut-off” for maximum price
5. Review application details carefully
6. Authorize the UPI mandate or ASBA blocking
7. Receive confirmation of Groww IPO application submission
8. Track your Groww IPO application status

Groww IPO Allotment Process

The Groww IPO allotment process typically takes 3-5 days after the subscription closes. Here’s what you need to know about the Groww IPO allotment:

Groww IPO Allotment Timeline

The basis of allotment for the Groww IPO is expected on November 10, 2025. The allotment process is managed by the Groww IPO registrar, MUFG Intime India Private Limited.

How to Check Groww IPO Allotment Status

You can check your Groww IPO allotment status through multiple channels:

Method 1: Check on Groww IPO Registrar Website

• Visit MUFG Intime India website
• Select “Groww IPO” from the company list
• Enter your PAN number or application number
• Submit to view your Groww IPO allotment status

Method 2: Check on NSE Website

• Visit the NSE official website
• Navigate to IPO allotment section
• Select “Groww IPO”
• Enter PAN or application number
• View your Groww IPO allotment details

Method 3: Check on BSE Website

• Visit BSE official website
• Go to IPO section
• Select “Groww IPO”
• Enter application details
• Check your Groww IPO status

Method 4: Check on Broker Platform

• Log in to your trading app
• Go to IPO section
• View your Groww IPO application status
• Allotment details will be updated automatically

Groww IPO Allotment Types

Pro-rata Allotment: If the Groww IPO is oversubscribed, shares are allocated proportionately within each category.

Lottery System: For retail category, if the Groww IPO receives excess applications, allotment may be done through a computerized lottery system ensuring fair distribution.

Refund Process: Unsuccessful applicants or those receiving partial allotment in the Groww IPO will receive refunds on November 11, 2025.

Groww IPO Registrar and Lead Managers

Groww IPO Registrar

MUFG Intime India Private Limited is the official registrar for the Groww IPO. The registrar is responsible for managing the Groww IPO allotment process, handling applications, and initiating refunds.

Groww IPO Lead Managers

The Groww IPO is managed by five prestigious Book Running Lead Managers (BRLMs):

1. Kotak Mahindra Capital Company Limited
2. J.P. Morgan India Private Limited
3. Citigroup Global Markets India Private Limited
4. Axis Capital Limited
5. Motilal Oswal Investment Advisors Limited

These leading investment banks are handling the Groww IPO book-building process, pricing, and institutional investor engagement.

Groww IPO Grey Market Premium (GMP)

The Groww IPO Grey Market Premium (GMP) is an unofficial indicator of market sentiment and expected listing gains. The GMP represents the premium at which Groww IPO shares are trading in the unofficial grey market before listing.

Current Groww IPO GMP Trends

Reports indicate that the Groww IPO GMP has been showing an increasing trend ahead of the November 4 launch, suggesting strong investor confidence and expectations for positive listing gains.

Understanding Groww IPO GMP

While the Groww IPO GMP provides insights into market sentiment, investors should note:

• Grey market is unofficial and unregulated
• Groww IPO GMP can fluctuate rapidly based on market conditions
• GMP should not be the sole basis for investment decisions
• Actual listing price may differ from GMP indications
• Overall market sentiment and competitive IPO offerings affect GMP

The Groww IPO GMP trend, combined with strong subscription numbers and anchor investor allocation, will provide better clarity on potential listing performance.

Groww IPO Strengths and Opportunities

The Groww IPO presents several competitive advantages and growth opportunities:

Key Groww IPO Strengths

✅ 1. Market Leadership Position
The Groww IPO company is India’s largest investment platform by NSE active users with 13 million active traders, ahead of Zerodha (8 million) and Angel One (7.7 million), providing significant scale advantages and brand recognition.

✅ 2. Exceptional Financial Performance
The Groww IPO company demonstrated revenue growth of 127.70% CAGR from FY2022 to FY2025, with profitability improving from ₹457.72 crore in FY2023 to ₹1,824.37 crore in FY2025.

✅ 3. User-Friendly Technology Platform
The Groww IPO business benefits from intuitive interface, mobile-first approach, and vernacular language support that attracts first-time investors and reduces onboarding friction.

✅ 4. Diversified Revenue Model
Unlike pure brokerages, the Groww IPO company generates income from equity trading, mutual funds, derivatives, MTF, and other services, reducing dependency on any single revenue stream.

✅ 5. Strong Investor Backing
The Groww IPO has support from marquee investors including Microsoft CEO Satya Nadella, Peak XV Partners, Tiger Global, and Ribbit Capital, providing credibility and strategic guidance.

✅ 6. Industry-Leading Margins
The Groww IPO company maintains a contribution margin of 85.20% and adjusted EBITDA margin of approximately 56.7%, indicating strong operational efficiency.

✅ 7. Strategic Acquisitions
The Groww IPO company’s recent acquisition of Fisdom for $150 million demonstrates its commitment to expanding into wealth advisory and premium services.

Growth Opportunities for Groww IPO

• Expanding user base in tier-2 and tier-3 cities where financial services penetration remains low
• Launching new financial products through NBFC subsidiary including personal loans and credit products
• Increasing revenue per user through cross-selling and upselling strategies
• Market share gains from traditional full-service brokers who charge higher fees
• Growing retail participation in Indian capital markets driven by financial literacy initiatives
• Digital adoption trends favoring online platforms over offline alternatives
• International expansion opportunities in other emerging markets

Groww IPO Risks and Challenges

While the Groww IPO presents attractive opportunities, investors must consider several risk factors. Many investors fail to properly assess risks, which is one of the primary reasons why people lose money in the stock market. Understanding these challenges is crucial for making informed investment decisions.

Key Groww IPO Risk Factors

⚠️ 1. Regulatory Risks
The Groww IPO business faces evolving regulations around F&O trading, brokerage commissions, and financial services that could significantly impact revenues. Recent SEBI regulations tightening derivatives trading rules have already affected the broader stockbroking sector, with competitors like Angel One reporting a 49% drop in net profit and 22% revenue decline.

⚠️ 2. Intense Competition
The Groww IPO company competes with established players like Zerodha, Angel One, Upstox, and traditional brokers launching digital offerings. Price competition remains fierce with several platforms offering zero-commission trading, potentially pressuring margins.

⚠️ 3. Market Volatility Dependence
The Groww IPO revenues correlate strongly with market activity and trading volumes. During bearish markets or extended sideways movements, trading activity declines significantly, directly impacting transaction-based revenues. This is particularly relevant as Q1 FY26 witnessed a 10% revenue decline despite profit growth.

⚠️ 4. Technology and Cybersecurity Risks
The Groww IPO platform faces risks related to system outages, data breaches, and cyber attacks that could irreparably damage reputation and trigger regulatory actions. The costs of maintaining robust security infrastructure continue increasing.

⚠️ 5. Customer Concentration
The Groww IPO business relies heavily on retail investors who may exhibit higher churn rates compared to institutional clients. Understanding Why Investors Fail in Stock Market: 10 Critical Reasons That Cost Indians Crores Every Year can provide insights into retail investor behavior patterns.

⚠️ 6. Execution Challenges
The Groww IPO fund utilization plans require effective execution across multiple fronts simultaneously—technology upgrades, marketing campaigns, subsidiary growth, and potential acquisitions. Management bandwidth constraints or strategic missteps could result in suboptimal returns.

⚠️ 7. Profitability Sustainability
While the Groww IPO company achieved strong profitability in FY2025, sustaining high margins amid increasing competition and potential regulatory changes remains challenging. The quarter-on-quarter revenue decline in Q1 FY26 requires monitoring.

Should You Apply for Groww IPO

The decision to invest in the Groww IPO depends on individual risk appetite, investment horizon, and market outlook. Before making this decision, it’s essential to understand your investment style and goals.

For those uncertain about their approach, exploring the differences between Stock Trading vs Stock Investing: Which is Better for You in 2025 can provide valuable clarity on whether the Groww IPO aligns with your financial strategy.

Positive Factors for Groww IPO Investment

✅ Market Leader: The Groww IPO company holds the largest market share with 13 million NSE active users

✅ Strong Financials: Revenue of ₹3,901.72 crore and profit of ₹1,824.37 crore in FY2025 demonstrate robust fundamentals

✅ Growth Trajectory: 127.70% revenue CAGR from FY2022 to FY2025 shows exceptional growth momentum

✅ High Margins: Contribution margin of 85.20% and adjusted EBITDA margin of ~56.7% indicate operational excellence

✅ Quality Backing: Support from prestigious global investors including Microsoft CEO Satya Nadella

✅ Technology Edge: User-friendly platform with mobile-first approach and vernacular support

✅ Diversification: Multiple revenue streams reduce dependency on single product lines

✅ Strategic Positioning: Recent Fisdom acquisition expands into wealth advisory segment

Considerations for Groww IPO Investment

⚠️ Valuation: At ₹92,074 crore valuation, the Groww IPO pricing should be carefully evaluated against listed peers like Angel One

⚠️ Regulatory Uncertainty: SEBI’s tightening of F&O trading rules could impact trading volumes and revenues

⚠️ Competition: Intense rivalry from Zerodha, Angel One, and traditional brokers may pressure margins

⚠️ Revenue Decline: Q1 FY26 witnessed 10% revenue decline from Q1 FY25, requiring monitoring

⚠️ Market Timing: Current high market valuations and potential corrections could affect listing performance

⚠️ Execution Risk: Success depends on effective deployment of ₹1,060 crore across multiple initiatives

⚠️ Retail Dependence: Heavy reliance on retail investors creates vulnerability to market sentiment changes

Groww IPO Investment Recommendation by Profile

For Long-Term Investors: The Groww IPO may be suitable for those believing in India’s financialization story, digital adoption trends, and Groww’s competitive advantages. Consider as a 3-5 year holding, understanding that the company operates in a cyclical, market-dependent business.

For Short-Term Traders: Monitor Groww IPO subscription levels, anchor allocation announced on November 3, GMP trends, and overall market conditions before deciding. Set clear profit targets and stop losses. However, be aware that trading IPOs carries significant risks.

For Conservative Investors: The Groww IPO may experience volatility given its market sensitivity and regulatory uncertainties. Conservative portfolios should limit exposure or wait for several quarters of listing performance before investing.

For First-Time IPO Investors: Understanding why many investors struggle in markets is crucial. Resources like Why People Lose Money in Stock Market: 7 Critical Reasons Indian Investors Must Know can help avoid common pitfalls.

Investment Strategy Suggestions

Partial Allocation Approach: Consider applying for 50% of your intended investment and evaluating post-listing performance before deploying the remaining amount. This limits downside risk while maintaining upside participation.

Wait and Watch: Some investors may prefer waiting for 2-3 quarters of listed performance, management commentary, and competitive dynamics before investing, even if it means missing potential listing gains.

Full Participation: Aggressive investors with high risk tolerance and long-term conviction in Groww’s business model may choose full allocation, understanding the inherent risks.

Common Investment Mistakes to Avoid

Whether you’re considering the Groww IPO or any other investment, understanding common mistakes that lead to losses is crucial for long-term success.

Why Most Investors Struggle

Research shows that a significant percentage of retail investors lose money in markets, not because of market conditions, but due to behavioral and strategic errors. Before investing in the Groww IPO, investors should educate themselves about these common pitfalls.

Critical Mistakes to Avoid with Groww IPO

1. Lack of Research: Don’t invest in the Groww IPO based solely on hype or grey market premium. Read the complete prospectus, understand the business model, and analyze financial statements thoroughly.

2. Ignoring Risk Factors: Many investors skip the risk disclosure section in the prospectus. Understanding regulatory, competitive, and operational risks is essential for informed decision-making.

3. Emotional Decision-Making: Don’t let fear of missing out (FOMO) drive your Groww IPO application decision. Make rational choices based on your financial goals and risk appetite.

4. Lack of Defined Strategy: Decide in advance whether you’re applying for listing gains (trading) or long-term wealth creation (investing). Your strategy determines application quantity, holding period, and exit criteria.

5. Overtrading: If allotted Groww IPO shares, don’t panic sell on listing day due to volatility. Frequent trading increases costs and often leads to selling winners too early and holding losers too long.

6. Inadequate Diversification: Don’t allocate a disproportionate amount of your portfolio to the Groww IPO. Maintain diversification across sectors, market caps, and asset classes.

7. Ignoring Valuation: Strong fundamentals don’t guarantee returns if you overpay. Compare the Groww IPO valuation with listed competitors and industry benchmarks.

Learning Resources for Better Investing

For comprehensive guidance on avoiding investment mistakes:

• Stock Trading vs Stock Investing: Which is Better for You in 2025 – Understand whether a trading or investing approach suits your goals
• Why People Lose Money in Stock Market: 7 Critical Reasons Indian Investors Must Know – Learn the behavioral and strategic errors that cost investors money
• Why Investors Fail in Stock Market: 10 Critical Reasons That Cost Indians Crores Every Year – Comprehensive analysis of investor failures and how to avoid them

These resources can significantly improve your understanding of market dynamics and help you make better decisions regarding the Groww IPO and other investments.

Groww IPO FAQs