Groww is a Bengaluru-based fintech company providing a direct-to-customer digital investment platform for retail investors with products including mutual funds, stocks, futures & options, ETFs, IPOs, digital gold, and U.S. stocks. Founded in 2017, Groww also offers margin trading and algorithmic trading services with a strong focus on customer engagement and an entrepreneurial culture. As of June 2025, Groww has approximately 1415 employees.
Groww IPO
Mainboard Bookbuild Issue (Fresh + Offer for Sale)
UPCOMING IPOGroww is launching a massive ₹6,632.30 crore mainboard IPO consisting of a fresh issue of 10.60 crore shares totaling ₹1,060 crore, plus an offer for sale of 55.72 crore shares aggregating ₹5,572.30 crore. The IPO opens on November 4, 2025 and closes on November 7, 2025, with allotment expected on November 10 and listing scheduled on BSE and NSE on November 12, 2025. Investors can apply in lots of 150 shares at the price band of ₹95 to ₹100 per share, with minimum retail investment of ₹15,000.
| Face Value | ₹2 per share |
|---|---|
| Issue Price Band | ₹95 to ₹100 per share |
| Offer Structure | Fresh Issue + Offer for Sale |
| Total Shares | 66,32,30,051 shares (₹6,632.30 crore) |
| Fresh Issue Shares | 10,60,00,000 shares (₹1,060 crore) |
| Offer for Sale Shares | 55,72,30,051 shares (₹5,572.30 crore) |
| Listing | BSE, NSE |
| Shareholding (Pre / Post) | 6,06,75,96,631 / 6,17,35,96,631 shares |
| Lead Manager | Kotak Mahindra Capital Co. Ltd. |
| Registrar | MUFG Intime India Pvt. Ltd. |
| Investor Category | Reservation |
|---|---|
| QIB | Not less than 75% of Net Offer |
| Retail | Not more than 10% of Net Issue |
| NII | Not more than 15% of Net Offer |
| IPO Open | Tue, Nov 4, 2025 |
|---|---|
| IPO Close | Fri, Nov 7, 2025 |
| Allotment (Tentative) | Mon, Nov 10, 2025 |
| Refunds Initiation | Tue, Nov 11, 2025 |
| Credit to Demat | Tue, Nov 11, 2025 |
| Listing (Tentative) | Wed, Nov 12, 2025 |
| UPI Mandate Cut-off | 5 PM on Nov 7, 2025 |
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 150 | ₹15,000 |
| Retail (Max) | 13 | 1,950 | ₹1,95,000 |
| S-HNI (Min) | 14 | 2,100 | ₹2,10,000 |
| S-HNI (Max) | 66 | 9,900 | ₹9,90,000 |
| B-HNI (Min) | 67 | 10,050 | ₹10,05,000 |
Groww is a Bengaluru-based fintech company providing a direct-to-customer digital investment platform for retail investors with products including mutual funds, stocks, futures & options, ETFs, IPOs, digital gold, and U.S. stocks. Founded in 2017, Groww also offers margin trading and algorithmic trading services with a strong focus on customer engagement and an entrepreneurial culture. As of June 2025, Groww has approximately 1415 employees.
FY2023–FY2025 (₹ crore)
| Assets | Total Income | Profit After Tax (PAT) | EBITDA | Net Worth | Reserves & Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 12,713.18 (Jun 25) | 948.47 | 378.37 | 418.75 | 5,995.45 | 5,506.78 | 324.08 |
| 10,077.31 (FY25) | 4,061.65 | 1,824.37 | 2,371.01 | 4,855.35 | 3,251.92 | 351.99 |
| 10,819.10 (Jun 24) | 1,047.58 | 338.01 | 482.66 | 2,886.28 | 2,821.41 | 117.66 |
| 8,017.97 (FY24) | 2,795.99 | -805.45 | -780.88 | 2,542.64 | 2,477.76 | 24.06 |
| 4,807.78 (FY23) | 1,260.96 | 457.72 | 398.78 | 3,316.75 | 4,445.63 | – |
Source: IPO filings and restated consolidated financials as per RHP and NSE disclosures.
The price band of ₹95 to ₹100 seems reasonable, but I’m curious about how the market will react to such a large offer for sale. It would be helpful to see how much of the shares are allocated to institutional investors versus retail ones.