The Groww IPO has officially closed, marking an important chapter in India’s fintech story. The Bengaluru-based investment platform’s ₹6,632.30 crore issue opened on November 4, 2025, and closed on November 7, 2025, with allotments finalized on November 10. The stock is scheduled to list on the NSE and BSE on November 12, 2025.
Groww’s parent company, Billionbrains Garage Ventures Ltd., offered shares in the ₹95-₹100 price band, combining a fresh issue and an offer for sale by existing shareholders. The IPO saw healthy participation across investor categories, reflecting steady confidence in the brand’s long-term growth potential.
As Groww moves toward its market debut, the focus now shifts from subscription numbers to performance; how will one of India’s most widely used investing platforms fare as a listed company? This blog breaks down all the key details, financial metrics, and insights investors should know post-IPO.
Groww IPO Key Details
The Groww IPO – launched by its parent company Billionbrains Garage Ventures Ltd. – has officially closed after completing its four-day bidding window. The issue received strong participation across investor categories, with notable traction among retail and institutional buyers.
Following the allotment finalization on November 10, 2025, the company is now preparing for its stock market debut on November 12, 2025, on both the NSE and BSE.
With the subscription phase behind and listing just ahead, the focus now shifts to how Groww’s valuation and fundamentals will play out once it begins trading publicly.
However, if you still wish to take a glance at the IPO’s key details, they’re mentioned in the table below:
| Details | Information |
| Groww IPO Opening Date | November 4, 2025 |
| Groww IPO Closing Date | November 7, 2025 |
| Allotment Finalization | November 10, 2025 |
| Listing Platforms | BSE, NSE |
| Groww IPO Face Value | ₹2 per share |
| Groww IPO Price Band | ₹95 – ₹100 per share |
| Lot Size | 150 shares |
| Groww Total Issue Size | ₹6,632.30 crore (66.32 crore shares) |
| Company | Billionbrains Garage Ventures Ltd. (Groww) |
| Minimum Investment (Retail) | ₹15,000 (1 lot of 150 shares) |
| GMP Groww IPO | Around ₹60–₹65 (subject to market updates) |
| Groww IPO Listing Date | November 12, 2025 |
| Registrar | MUFG Intime India Pvt. Ltd. |
Data available is as of 11.11.25.
Groww IPO GMP Day-wise Trend Table
| Date | IPO GMP (₹) |
| 11 Nov 2025 | ₹3 |
| 10 Nov 2025 | ₹5 |
| 8 Nov 2025 | ₹5 |
| 7 Nov 2025 | ₹5 |
| 6 Nov 2025 | ₹14 |
| 5 Nov 2025 | ₹14 |
| 4 Nov 2025 | ₹16 |
| 3 Nov 2025 | ₹15 |
| 1 Nov 2025 | ₹15 |
| 31 Oct 2025 | ₹15 |
| 30 Oct 2025 | ₹11 |
Data available is updated as of 11.11.25.
Summary Insight: The Groww IPO GMP started strong, hitting a peak of ₹16 on November 4, the opening day of the issue, but gradually declined to ₹3 by November 11, ahead of listing. This indicates softening sentiment in the grey market despite high retail subscriptions.
Groww Company Overview: Journey and AMC Expansion
Company Origins
Groww was started back in 2016 by four former Flipkart employees with a simple mission: to make investing easy and paperless for retail investors.
The founders are:
| Founder Name | Designation |
| Lalit Keshre | Co-Founder & CEO |
| Neeraj Singh | Co-Founder |
| Harsh Jain | Co-Founder & COO |
| Ishan Bansal | Co-Founder |
What began as a direct mutual fund platform quickly expanded to include stocks, IPOs, futures & options, and much more.
Key Milestones of Groww
| Year | Milestone |
| 2016 | Founded as a mutual fund investment platform |
| 2019 | Launched stockbroking and ETF services |
| 2021 | Enabled IPO investing; crossed 5M users |
| 2023 | Acquired Indiabulls AMC and entered asset management |
| 2024 | Became India’s largest broker by active clients |
| 2025 | Filed confidential IPO papers with SEBI |
Entry into AMC Business (Indiabulls Acquisition)
To scale further, Groww acquired Indiabulls Asset Management Company and Indiabulls Trustee Company in May 2023 for ₹175.6 crore.
- The deal was approved by the CCI in 2021 and completed in 2023.
- The acquisition excluded Indiabulls’ AIF and PMS arms.
- Post-acquisition, Groww rebranded existing funds as Groww Mutual Fund.
- This made Groww one of the first fintechs in India to own and operate an AMC.
Groww had to pay Rs 1340 Cr in taxes to shift their headquarters from US to India. This led to overall loss of 805 Cr despite making profit on their operations.
Groww Company Funding Details
Funding Total Funding: ₹3,398 crore
Investors :
- Sequoia Capital
- Y Combinator
- Kairos
- Ribbit Capital
- Propel Venture Partners
- Kauffman Fellows Fund
How does Groww Make Money
Groww is a platform that helps people invest their money easily, all from their phone or computer. Here’s what you can do on Groww:
- Invest in mutual funds regularly (SIP) or all at once
- Buy and sell stocks, even on the same day (intraday trading)
- Trade more advanced products like futures and options (F&O)
- Invest in things like ETFs, digital gold, and fixed deposits
- Apply for IPOs easily using UPI
How Groww Earns
- They charge small fees when you trade stocks or F&O
- They get commissions from mutual fund companies when you invest
- They earn interest on the money you keep in your account before investing
- They also earn from selling other financial products
Groww Company Financials
Before the Groww IPO hits the market, it’s important to take a close look at the company’s financials.
This snapshot reveals how healthy and profitable Groww is, helping investors understand its growth story and make smarter decisions ahead of the listing.
Here’s a quick breakdown:
| Particulars | 2020 | 2021 | 2022 | 2023 | 2024 |
| Total Assets | 4,476 | 4,627 | 6,185 | 5,994 | 9,450 |
| Total Liabilities | 2,032 | 2,097 | 3,396 | 3,165 | 5,996 |
| Total Equity | 2,444 | 2,530 | 2,790 | 2,829 | 3,455 |
| Earnings Per Share (Diluted) | 5.76 | 12.62 | 20.51 | 18.84 | 28.93 |
| Debt to Equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Revenue from Operations | 630.00 | 654.65 | 863.53 | 953.94 | 1,618 |
| Other Revenue | 20.83 | 24.20 | 22.83 | 29.10 | 25.40 |
| Expenses | 535.39 | 497.05 | 565.45 | 705.91 | 1,101 |
| Operating Profit Margin | 24.59% | 45.93% | 53.27% | 50.88% | 63.44% |
| Net Profit Margin | 16.53% | 31.76% | 37.73% | 40.82% | 49.65% |
Data available is as of 26.05.25.
Financial Observations
- Groww’s total assets and equity have nearly doubled from 2020 to 2024, showing strong growth.
- The company has zero debt throughout, indicating a clean and healthy balance sheet.
- Earnings per share (EPS) jumped from 5.76 to 28.93, reflecting rising profitability for investors.
- Revenue more than doubled, while expenses increased moderately, supporting business expansion.
- Operating and net profit margins improved significantly, reaching over 63% and 49% respectively by 2024.
Groww Financial Growth Over the Years
Revenue & Net Profit of Groww Over the Years
| Financial Year | Revenue | Net Profit (INR Cr) |
| FY23–24 | ₹3,145 | -₹805 |
| FY22–23 | ₹1,277 | ₹448 |
| FY21–22 | ₹348 | ₹6.80 |
| FY20–21 | ₹40.50 | ₹2.72 |
| FY19–20 | ₹2.90 | -₹7.93 |
Why Did Groww Launch Its IPO?
With the IPO now closed, Groww’s public listing marks a major milestone in its journey from a startup to a large-scale fintech platform. According to its Red Herring Prospectus, the company aims to utilize the fresh issue proceeds primarily for business expansion, technology enhancement, and general corporate purposes.
A significant portion of the issue also came from an Offer for Sale (OFS), allowing early investors – including Tiger Global, Peak XV Partners (formerly Sequoia Capital India), and Ribbit Capital – to partially offload their stakes.
While the exact allocation of funds will be revealed in future disclosures, the IPO positions Groww for its next phase of growth as it prepares to debut on the NSE and BSE on November 12, 2025.
What the Groww IPO Has Signalled So Far
The Groww IPO-launched by Billionbrains Garage Ventures Ltd.-has officially closed after attracting strong investor interest across categories. The issue, valued at ₹6,632.30 crore, included both a fresh issue and offer for sale, and was subscribed an impressive 17.6 times overall, underscoring India’s growing appetite for fintech-driven investment platforms.
Here’s what the market trends have revealed post-closure:
- A Landmark for Fintech IPOs: Groww’s public debut marks one of India’s largest fintech listings, signalling how far digital-first investing has come in mainstream capital markets.
- Heavy Institutional Participation: The Qualified Institutional Buyers (QIB) segment saw subscription levels of over 22 times, showing strong backing from large domestic and foreign investors.
- Retail Enthusiasm Remains High: Retail investors subscribed about 9.4 times, highlighting Groww’s widespread brand trust and accessibility among everyday investors.
- Balanced Financial Profile: Backed by consistent revenue growth, expanding customer reach, and a debt-free balance sheet, Groww has entered the listed-company stage with a relatively clean financial structure.
- Partial Exits by Early Investors: The Offer for Sale portion enabled partial stake dilution by early backers such as Tiger Global, Peak XV Partners (formerly Sequoia Capital India), and Ribbit Capital, a common move in high-profile fintech listings.
- GMP Reflects Mild Listing Premium: As of November 11, 2025, the Grey Market Premium (GMP) is hovering around ₹3-₹5, indicating expectations of a modest listing gain when trading begins on November 12, 2025.
With this IPO, Groww has not only entered the public markets but also set a benchmark for the next wave of fintechs eyeing listings in India. All eyes now turn to its listing-day performance to see whether investor sentiment aligns with its strong subscription numbers.
Bottom Line
The Groww IPO has wrapped up as one of India’s most closely watched listings of 2025 – and for good reason. It wasn’t just a fundraising event; it was a signal of how far digital investing has come in India. A few years ago, stockbroking was limited to legacy players. Today, platforms like Groww have turned investing into a smartphone-first experience for millions.
With the IPO now complete and listing just around the corner, investors are shifting focus from subscription numbers to performance and long-term strategy. Will Groww sustain its growth and profitability momentum in the public market? Or will rising competition in fintech test its resilience? Those are the questions that matter most now.
Regardless of how the stock performs in the near term, Groww’s market debut has set a precedent – for how tech-driven financial brands can go public, attract retail participation at scale, and redefine India’s investment culture.
For now, one thing is clear: the Groww IPO isn’t just about a company going public; it’s about a generation of investors coming of age.
Suggested Read: Prostarm Info Systems Limited IPO 2025: GMP, Price Band, Key Dates & Other Important Details
Disclaimer: Investments in securities market are subject to market risks. Read all the related documents carefully before investing.
FAQs
How can I check my Groww IPO allotment status?
The allotment for the Groww IPO was finalised on November 10, 2025. Investors who applied can check their status via the registrar’s website (MUFG Intime India Pvt Ltd.), the BSE/NSE “IPO application status” page, or the Groww app itself. Enter your PAN, application number or DP/Client ID to verify.
What is the listing date and expected debut price for Groww shares?
The issue is slated to list on November 12, 2025 on both the BSE and NSE. While there’s no official debut price, the grey-market premium (GMP) ahead of listing is reported around ₹3-5 per share above the issue price of ₹100, implying a modest expected listing upside.
Who were the anchor investors and what was the subscription rate for the Groww IPO?
The IPO attracted strong institutional and retail interest: the overall subscription rate was approximately 17.6×, with QIB participation around 22× and retail about 9.4×. Anchor investors participated ahead of the public issue.
What are the major risks and key metrics to track after Groww is listed?
Post-listing investors should watch: (i) growth in active users and assets-under-management, (ii) expansion into new product lines beyond broking, (iii) profitability margins and cash flows, and (iv) competition in the fintech/broking space. The risk lies in high valuation expectations, slowing user growth or margin pressure.
