New Delhi: Billionbrains Garage Ventures, the parent firm of stockbroking platform Groww, has raised over Rs 2,984 crore from anchor investors ahead of its Rs 6,632 crore initial public offering (IPO). Key investors include the Abu Dhabi Investment Authority and the Government of Singapore.
The allocation to anchor investors took place a day before the IPO opens for public subscription on November 4, closing on November 7.
According to a circular uploaded on the BSE website, 102 funds participated in the anchor book. Prominent global investors include the Monetary Authority of Singapore, Goldman Sachs, and Morgan Stanley, while leading domestic mutual funds such as HDFC MF, SBI MF, Kotak Mahindra MF, Nippon India MF, Axis MF, Aditya Birla Sun Life MF, Mirae Asset, Motilal Oswal MF, and ICICI Prudential Life Insurance also took part.
Groww allotted 29.84 crore shares to anchor investors at Rs 100 per share, raising Rs 2,984.5 crore. Of this, 17 domestic mutual funds received about 46.6% of the shares, spread across 54 schemes.
The IPO has a price band of Rs 95–100 per share, valuing the company at around Rs 61,700 crore (USD 7 billion). It includes a fresh issue of Rs 1,060 crore and an Offer for Sale (OFS) of 55.72 crore shares by promoters and early investors.
Promoters Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal will each sell up to 1 million shares. Among investors, Peak XV Partners, YC Holdings II, Ribbit Capital, Internet Fund VI, and Kauffman Fellows Fund will offload part of their holdings.
Groww’s founders collectively hold 27.97% of the company and are offering just 0.07% of the total shares in the IPO. Their holdings will remain under a 20% lock-in for 18 months post-listing.
Backed by marquee investors like Peak XV Partners, Tiger Global, and Microsoft CEO Satya Nadella, Groww plans to use the IPO proceeds for technology development and business expansion.
Despite regulatory tightening in derivatives (F&O) trading, Groww posted a threefold rise in profit to Rs 1,824 crore in FY25. The platform acquired over 80% of new users organically, with a 77% retention rate over three years. On the mutual fund front, it contributed Rs 34,000 crore in SIP inflows in FY25 — about 11.8% of the industry total, as per AMFI data.
From the fresh issue, Groww will allocate Rs 225 crore for brand and marketing, Rs 205 crore to Groww Creditserv Technology Pvt Ltd (its NBFC arm) to strengthen its capital base, Rs 167.5 crore to Groww Invest Tech Pvt Ltd for its margin trading facility, and Rs 152.5 crore to enhance cloud infrastructure. The remainder will support acquisitions and general corporate purposes.
Based in Bengaluru, Groww filed for its IPO through the confidential pre-filing route with SEBI in May and received approval in August. The method allows firms to keep IPO details private until later stages and is becoming increasingly popular among Indian startups.
Founded in 2016, Groww has grown into India’s largest stockbroker, with 12.6 million active clients and a 26% market share as of June 2025. The company’s market debut is scheduled for November 12.
