Liquidity Events
Stockbroking platform Groww’s Rs.6,632-Cr IPO oversubscribed 18 times
The Initial Public Offering (IPO) of Bengaluru-headquartered Groww’s (Billionbrains Garage Ventures Ltd) was oversubscribed 17.6 times, receiving 641.86 crore bids against 36.47 crore shares offered. The IPO comprises a fresh issue of INR 1,060 crore and an Offer for Sale (OFS) of INR 5,572 crore. Retail Individual Investors (RIIs) subscribed 9.43 times, Non-Institutional Investors (NIIs) subscribed 14.20 times, and Qualified Institutional Buyers (QIBs) subscribed 22.02 times. The IPO is being jointly managed by Kotak Mahindra Capital, JP Morgan, Citigroup, Axis Capital, and Motilal Oswal Investment Advisors.Founded in 2017 by former Flipkart executives Lalit Keshre, Harsh Jain, Ishan Bansal, and Neeraj Singh, Groww is a prominent retail investing platform offering direct-to-consumer digital investment and trading services across asset classes, along with margin trading and personal loan services. In FY25, Groww reported an operating revenue of INR 3,901 crore, a 49% year-on-year growth, and a profit after tax (PAT) of INR 1,824 crore. Proceeds from the fresh issue are intended to strengthen cloud infrastructure, enhance brand-building and marketing initiatives, and provide capital support to its subsidiaries, Groww Creditserv Tech (for NBFC operations) and Groww Invest Tech (for margin trading activities).Selling shareholders in the IPO include Peak XV Partners Investments VI-1 (15.83 crore equity shares); YC Holdings II, LLC (10.55 crore equity shares); Ribbit Capital (Ribbit Capital V, L.P. - 6.57 crore equity shares and GW-E Ribbit Opportunity V, LLC - 5.25 crore equity shares); and Tiger Global (via Internet Fund VI Pte. Ltd - 6.48 crore equity shares)
Between Jul 2018 and Jun 2025, Groww had attracted about USD 595 M from Peak XV Partners, Ribbit Capital, Tiger Global, Y Combinator Continuity Fund, GIC, Iconiq Capital, Alkeon Capital, Lone Pine Capital, Propel Venture Partners, Steadfast Capital and others.
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