The much-anticipated initial public offering (IPO) of Billionbrains Garage Ventures Ltd, the parent company of popular investment platform Groww, opened for public subscription today, November 4, 2025, and will remain open until November 7, 2025.
The Bengaluru-based fintech firm has set the price band at ₹95 to ₹100 per equity share. The IPO is a combination of a fresh issue and an offer for sale (OFS), collectively aiming to raise ₹6,632.30 crore. Of this, ₹1,060 crore will come from the fresh issue of shares, while ₹5,572.30 crore will be raised through the OFS route, allowing existing shareholders to offload part of their holdings.
Grey Market Premium (GMP)
According to market observers, Groww shares are trading at a premium of ₹17 in the unlisted grey market today. This suggests a possible listing price of around ₹117 per share, indicating modest investor optimism ahead of the debut.
Key Details of Groww IPO
- IPO Open Date: November 4, 2025
- IPO Close Date: November 7, 2025
- Price Band: ₹95–₹100 per share
- Issue Size: ₹6,632.30 crore (₹1,060 crore fresh issue + ₹5,572.30 crore OFS)
- Lot Size: 150 shares per lot
- Registrar: MUFG Intime India Private Limited
- Lead Managers: Kotak Mahindra Capital, JP Morgan India, Citigroup Global Markets India, Axis Capital, and Motilal Oswal Investment Advisors
- Allotment Date: Likely on November 8, 2025, or November 10, 2025 if delayed
- Listing Date: Tentatively November 12, 2025
Expert Views
Market experts have expressed cautious optimism about the Groww IPO.
Anuj Gupta, Director at Ya Wealth, has given the issue a ‘subscribe’ rating, stating that Groww’s valuation of around ₹61,700 crore and its 14.38 million active users make it one of India’s leading digital investment platforms. “Despite the broking industry facing headwinds due to SEBI’s regulatory reforms, Groww’s strong brand presence and user growth make it a good bet for potential listing gains,” he said.
Meanwhile, Shivani Nyati, Head of Wealth at Swastika Investmart, recommends applying for the IPO with a medium- to long-term horizon. “Groww commands a 26% market share and has demonstrated consistent revenue growth over the years. Although FY24 saw a temporary dip due to one-time tax adjustments, the company’s fundamentals remain strong. The issue appears fairly valued, and long-term investors may benefit as the digital investment ecosystem continues to expand,” she noted.
Conclusion
With a moderate grey market premium and strong institutional backing, the Groww IPO has attracted attention from both retail and institutional investors. While near-term gains may be limited, analysts believe that Groww’s scalable business model, market leadership, and consistent growth make it a promising long-term investment opportunity.