Billionbrains Garage Ventures Limited, popularly known as Groww, is a Bengaluru-based financial technology company offering a direct-to-customer digital investment platform. It provides Indian retail investors with wealth creation opportunities through a wide range of financial products and services, making investing simple, transparent, and technology-driven.
The company primarily generates revenue from brokerage and trading commissions, margin funding and credit products, as well as mutual fund distribution and asset management fees.
Groww enables users to invest and trade across multiple asset classes via its mobile app and website, including:
- Stocks and Derivatives (F&O)
- Mutual Funds, including those managed under the Groww Mutual Fund
- Exchange-Traded Funds (ETFs)
- Initial Public Offerings (IPOs)
- Digital Gold
- U.S. Stocks
- Bonds and Credit Solutions
In addition, Groww offers value-added services such as:
- Margin Trading Facility (MTF)
- Algorithmic Trading
- New Fund Offers (NFOs)
- Personal Loans through its subsidiary Groww Creditserv Technology Private Limited
Groww’s growth strategy is built around two core pillars:
- Expanding its customer base by simplifying investing for new retail users across India.
- Deepening relationships with existing customers through new product introductions and financial education initiatives such as “Ab India Karega Groww”, its nationwide financial literacy campaign.
Groww’s proprietary technology infrastructure allows scalable performance, capable of handling nearly 50 million users simultaneously and 50 million orders per day. Its in-house innovations include:
- Groww UPI (GUPI) for seamless payments
- Groww ORBIT for automated back-office operations
- AI-powered chatbots managing customer support
- Groww Lite, a disaster recovery system ensuring reliability during outages
As of June 30, 2025, Groww had 1,415 employees, 47.89 million active NSE clients, and over 100 million app downloads, making it India’s largest and fastest-growing investment platform by active users on NSE.
Billionbrains Garage Ventures IPO – Details
| IPO Opening Date | 04 November 2025 |
| IPO Closing Date | 07 November 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 66,32,30,051 Shares Worth ₹6,632.30 Crore Fresh Issue: 10,60,00,000 Shares Worth ₹1,060.00 Crore Offer For Sale: 55,72,30,051 Shares Worth ₹5,572.30 Crore |
| Face Value | ₹2 per equity share |
| IPO Price | ₹95 – ₹100 per share |
| Market Lot | 150 Shares |
| Min Order | 150 Shares [ 1 Lot ] |
| Listing At | BSE, NSE |
| Register | MUFG Intime India Pvt.Ltd. |
| QIB Shares Offered | 75% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 10% |
Billionbrains Garage Ventures IPO – Date Schedule
| IPO Open Date | 04 November 2025 |
| IPO Close Date | 07 November 2025 |
| Basis of Allotment | 10 November 2025 |
| Initiation of Refund | 11 November 2025 |
| Credit of Shares to Demat Account | 11 November 2025 |
| IPO Listing Date | 12 November 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 07, 2025 |
Billionbrains Garage Ventures IPO – Lots Size & Price
| 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 |
Competitive Strength
- “Groww” is a well-known and preferred brand for investing across cities, towns and villages in India.
- High customer retention, engagement and price in-elasticity.
- Customer-friendly design for enhancing investing experience.
- In-house technology stack to deliver a differentiated experience at low cost.
- Entrepreneurial and ownership-driven culture.
- Strong execution delivering growth and profitability.
Company Promoters
- Lalit Keshre
- Harsh Jain
- Ishan Bansal
- Neeraj Singh
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2023 | ₹1,260.96 Cr | ₹757.12 Cr | ₹457.72 Cr | – |
| 31 March 2024 | ₹2,795.99 Cr | ₹2,068.11 Cr | –₹805.45 Cr | ₹24.06 Cr |
| 31 March 2025 | ₹4,061.65 Cr | ₹1,596.49 Cr | ₹1,824.37 Cr | ₹351.99 Cr |
| 30 June 2025 | ₹948.47 Cr | ₹444.67 Cr | ₹378.37 Cr | ₹324.08 Cr |
Key Performance Indicator
| KPI | Values |
|---|---|
| RoNW | 37.57% |
| PAT Margin | 44.92% |
| EBITDA Margin | 59.11% |
| Price to Book Value | 11.76 |
| Market Capitalization | 61735.97 |
| Pre IPO | Post IPO | |
| EPS (₹) | 3.01 | 2.45 |
| P/E (x) | 33.26 | 40.79 |
Object Of The Issue
| Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|
| Expenditure towards cloud infrastructure. | ₹152.50 |
| Brand building and performance marketing activities. | ₹225.00 |
| Investment in one of the Material Subsidiaries, GCS, an NBFC, for augmenting its capital base. | ₹205.00 |
| Investment in one of the Material Subsidiaries, GIT, for funding its MTF business. | ₹167.50 |
| Funding inorganic growth through unidentified acquisitions and general corporate purposes. |
Billionbrains Garage Ventures IPO Peer Comparison
| S. No. | Face Value (₹) | Company Name | P/E Ratio |
|---|---|---|---|
| 1 | 10 | Angel One Limited | 19.80 |
| 2 | 1 | Motilal Oswal Financial Services Limited | 24.88 |
| 3 | 1 | 360 One WAM Limited | 45.20 |
| 4 | 10 | Nuvama Wealth Management Limited | 26.85 |
| 5 | 5 | Prudent Corporate Advisory Services Limited | 58.92 |
✅Strengths
- India’s largest retail investment platform with 47.8 million active NSE users.
- Wide range of products — stocks, mutual funds, ETFs, IPOs, and loans on one app.
- Strong in-house technology (Groww UPI, ORBIT, Lite) for scalability and efficiency.
- AI-based onboarding and simple user interface enhance customer experience.
- Focus on financial literacy through “Ab India Karega Groww” initiative.
⚠️Risks
- Operates in a highly regulated environment; policy changes may affect business.
- Heavy reliance on digital infrastructure increases cybersecurity risks.
- Strong competition from other fintech and traditional brokers.
- Revenue tied to trading volumes and market conditions.
- Exposure to credit and liquidity risks from lending and margin funding.
Billionbrains Garage Ventures IPO Promoter Holding
| Pre Issue Share Holding | 28.29% |
| Post Issue Share Holding | 27.81% |
Billionbrains Garage Ventures IPO Prospectus
Company Contact Information
| Billionbrains Garage Ventures Ltd. Vaishnavi Tech Park, South Tower, 3rd Floor Sarjapur Main Road, Bellandur Bangalore Urban, Karnataka, 560103 Phone: +91 80 6960 1300 Email: corp.secretarial@groww.in Website: http://www.groww.in/ |
Billionbrains Garage Ventures IPO Registrar
| MUFG Intime India Pvt.Ltd. Phone: +91-22-4918 6270 Email: groww.ipo@linkintime.co.in Website: https://linkintime.co.in/Initial_Offer/public-issues.html |
Billionbrains Garage Ventures IPO Lead Manager(s)
| 1. Axis Capital Limited 2. J.P. Morgan India Private Limited 3. Kotak Mahindra Capital Company Limited 4. Motilal Oswal Investment Advisors Limited 5. Citigroup Global Markets India Private Limited |
Billionbrains Garage Ventures IPO FAQs
| What is Billionbrains Garage Ventures IPO? Billionbrains Garage Ventures IPO is a main-board IPO. The issue is priced at ₹95 to ₹100 per equity share. The IPO is to be listed on the BSE & NSE. |
| When will Billionbrains Garage Ventures IPO open? The IPO is to open on 04 November 2025 for QIB, NII, and Retail Investors. |
| What is Billionbrains Garage Ventures IPO Investors Portion? The investors’ portion for QIB – 75%, NII – 15%, and Retail – 10%. |
| What is Billionbrains Garage Ventures IPO Size? Billionbrains Garage Ventures IPO size is ₹6,632.30 Crore. |
| What is the Billionbrains Garage Ventures IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 150 Shares with ₹15,000, while the maximum bid is 1950 Shares with ₹1,95,000. |
| What is the Billionbrains Garage Ventures IPO Allotment Date? Billionbrains Garage Ventures IPO allotment date is 10 November 2025. |
| What is the Billionbrains Garage Ventures IPO Listing Date? Billionbrains Garage Ventures IPO listing date is 12 November 2025. The IPO is to be listed on BSE and NSE. |
