- Issue price
- ₹100per share
- Issue size
- ₹6,632.3 Cr66,32,30,051 shares
- Face value
- ₹2per equity share
- Lot size
- 150 sharesMin. ₹15,000 at the upper price
- Anchor biddingMon, 2025
- OpensTue, 2025
- ClosesFri, 2025
- AllotmentMon, 2025
- ListingWed, 2025
Dates marked in the offer document as tentative. Times in IST.
Information only, not investment advice. This page provides information compiled from official offer documents for information purposes only. It is not investment advice or a recommendation to apply for, buy or sell any security. We are not a SEBI-registered investment adviser or research analyst. Investments in IPOs are subject to market risks; read the offer document carefully before investing.
Issue details
- Issue type
- Book built, fresh issue and offer for sale
- Fresh issue
- 10,60,00,000 shares (₹1,060 Cr)
- Offer for sale
- 55,72,30,051 shares (₹5,572.3 Cr)
- Total issue
- 66,32,30,051 shares (₹6,632.3 Cr)
- Face value
- ₹2
- Listing at
- NSE, BSE
- Promoter holding
- 26.62% → 26.17%
Source: ProspectusUpdated
Reservation
Share of the total issue- Anchor64.3%
- NII21.4%
- Retail14.3%
| Category | Shares | Of net offer | Stated in RHP |
|---|---|---|---|
| Retail individual investors | 6,63,23,005 | 14.29% | — |
| Non-institutional investors (NII) | 9,94,84,507 | 21.43% | — |
| Qualified institutional buyers (QIB) | 49,74,22,539 | 107.14% | — |
| Anchor investors | 29,84,53,523 | 64.29% | — |
Source: ProspectusUpdated
Subscription
Category-wise subscription is published by the exchanges while the issue is open. It appears here once the figures are added.
Valuation
FY 2024-25, pre-issue- EPS (basic)
- ₹3.34
- EPS (diluted)
- ₹3.19
- P/E (FY 2024-25 diluted at offer price)
- 31.35×
- RoNW
- 37.57%
- NAV per share (At offer price)
- ₹12.1
- NAV per share (As at June 30, 2025)
- ₹10.47
Source: ProspectusUpdated
Financials
Consolidated, restated · ₹ crore| Period ended | 30 Jun 20253 months | 31 Mar 2025FY 2024-25 | 31 Mar 2024FY 2023-24 | 31 Mar 2023FY 2022-23 |
|---|---|---|---|---|
| Revenue from operations | 904.40 | 3,901.72 | 2,609.28 | 1,141.53 |
| Total income | 948.47 | 4,061.65 | 2,795.99 | 1,260.96 |
| Profit after tax | 378.37 | 1,824.37 | -804.94 | 457.66 |
| Net worth | 5,995.45 | 4,855.35 | 2,542.64 | 3,316.75 |
| Reserves and surplus | — | 4,445.63 | 2,477.76 | 3,251.92 |
| Total assets | 12,713.18 | 10,077.31 | 8,017.97 | 4,807.78 |
| Total borrowing | 324.08 | 351.99 | 24.06 | 0.00 |
FY 2024-25 vs FY 2023-24: revenue +49.5%, profit after tax +326.6%. Periods shorter than 12 months are shown as reported and are not annualised.
Source: ProspectusUpdated
About the company
A direct-to-customer digital investment platform offering stocks and derivatives trading, IPO applications, bonds, mutual funds, margin trading and personal loans through its Groww app and website. The company was formerly a subsidiary of Groww Inc. and became a public limited company in 2025.
- Incorporated
- 2018
- Industry
- Investment Platform
- Sector
- Financial Services
- CIN
- U72900KA2018PLC109343
- Website
- groww.in
Source: ProspectusUpdated
Promoters and shareholders
| Name | Type | Before issue | After issue | Shares offered |
|---|---|---|---|---|
| Lalit Keshre | Promoter | 9.12% | 8.97% | — |
| Harsh Jain | Promoter | 6.72% | 6.60% | — |
| Neeraj Singh | Promoter | 6.25% | 6.15% | — |
| Ishan Bansal | Promoter | 4.53% | 4.45% | — |
| Peak XV Partners Investments VI-1 | Selling shareholder | 19.87% | 16.99% | 15,82,81,491 |
| YC Holdings II, LLC | Selling shareholder | 12.04% | 10.14% | 10,54,81,609 |
| Ribbit Capital V, L.P. | Selling shareholder | 8.14% | 6.95% | 6,56,68,147 |
| Internet Fund VI Pte. Ltd. | Selling shareholder | 6.04% | 5.11% | 5,18,42,810 |
| Sequoia Capital Global Growth Fund III – U.S./India Annex Fund, L.P. | Selling shareholder | 1.85% | 1.58% | 1,47,23,398 |
| Propel Venture Partners Global US, LP | Selling shareholder | 1.77% | 1.48% | 1,62,66,356 |
| GW-E Ribbit Opportunity V, LLC | Selling shareholder | 1.05% | — | 5,24,64,086 |
| Kauffman Fellows Fund, L.P. | Selling shareholder | 0.45% | — | 2,75,05,088 |
| Friále Fund IV LLC | Selling shareholder | 0.37% | — | 1,13,43,750 |
| Alkeon Innovation Master Fund II, LP | Selling shareholder | 0.31% | — | 1,87,07,370 |
| Alkeon Innovation Master Fund II, Private Series, LP | Selling shareholder | 0.28% | — | 1,74,53,620 |
| Nirman Investments, L.P. | Selling shareholder | 0.19% | — | 59,68,700 |
| Alkeon Innovation Master Fund, LP | Selling shareholder | 0.13% | — | 81,18,000 |
| Nirman Holdings, L.P. | Selling shareholder | 0.10% | — | 29,84,378 |
| Alkeon Innovation Opportunity Master Fund, LP | Selling shareholder | 0.01% | — | 4,21,248 |
Source: ProspectusUpdated
Objects of the issue
₹ crore| Purpose | Amount |
|---|---|
| Cloud infrastructure expenditure | 152.50 |
| Brand building and performance marketing | 225.00 |
| Capital infusion into subsidiary Groww Creditserv Technology (NBFC) | 205.00 |
| Funding margin trading facility business of subsidiary Groww Invest Tech | 167.50 |
| Inorganic growth through unidentified acquisitions and general corporate purposes | 265.98 |
Source: ProspectusUpdated
Peer comparison
As listed in the offer document| Company | EPS | P/E | RoNW | NAV per share |
|---|---|---|---|---|
| Angel One Limited | ₹130.05 | 19.80× | 20.85% | ₹623.72 |
| Motilal Oswal Financial Services Limited | ₹41.83 | 24.88× | 22.64% | ₹185.24 |
| 360 One WAM Limited | ₹27.14 | 45.20× | 14.37% | ₹188.89 |
| Nuvama Wealth Management Limited | ₹276.66 | 26.85× | 28.22% | ₹979.11 |
| Prudent Corporate Advisory Services Limited | ₹47.25 | 58.92× | 29.30% | ₹161.25 |
| Robinhood Markets, Inc. | ₹132.8 | 86.11× | 17.70% | ₹750.95 |
| Interactive Brokers Group, Inc. | ₹580.17 | 38.77× | 17.64% | ₹3,258.99 |
| Nordnet AB (publ) | ₹92.31 | 25.64× | 35.45% | ₹268.47 |
| Billionbrains Garage Ventures LimitedIssuer | ₹3.34 | 31.35× | 37.57% | ₹8.89 |
Source: ProspectusUpdated
Strengths and risks
Our summary of what the offer document statesStrengths
- Large and fast-growing investment platform by NSE active clients, per the Redseer report cited.
- Strong organic customer acquisition, with over 80% of new customers acquired organically in recent periods.
- Mostly in-house technology platform designed for low-cost, high-volume operations.
- Diversified product set spanning stocks, derivatives, mutual funds, bonds, margin trading and personal loans.
- Promoter-led culture with an ownership-driven execution team.
Risks
- Revenue is heavily dependent on broking services, which accounted for about 80% of revenue in recent periods.
- Sensitive to market downturns, which have reduced active clients and new user additions.
- Reliance on technology platform; past outages and system failures have occurred.
- Exposed to changing SEBI and RBI regulations affecting broking and lending businesses.
- Offer is largely an offer for sale, so the company receives no proceeds from the selling shareholders' portion.
Source: ProspectusUpdated
Documents
Contacts
Source: ProspectusUpdated
Allotment status
Check whether shares were allotted on the official pages below, using your PAN, application number or DP/client ID. Results appear once the basis of allotment is finalised.
- Allotment
- Refunds
- Demat credit
- Listing
Source: ProspectusUpdated
After listing
Listing price, day-one high and low, and the change from the issue price (₹100) appear here after the shares list on NSE and BSE.
Work out the gain or loss on allotted shares after charges and tax →
Frequently asked questions
When does the Billionbrains Garage Ventures IPO open and close?
According to the Prospectus, the issue opens on Tuesday, 4 November 2025 and closes on Friday, 7 November 2025.
What is the Billionbrains Garage Ventures IPO price band?
The final issue price is ₹100 per share.
What is the lot size of the Billionbrains Garage Ventures IPO?
One lot is 150 shares, which is ₹15,000 at ₹100 per share.
Where will Billionbrains Garage Ventures shares list?
On NSE and BSE. The tentative listing date is Wednesday, 12 November 2025.
Who is the registrar of the issue?
MUFG Intime India Private Limited (SEBI registration INR000004058). Allotment status is checked on the registrar's website.
How do I check the Billionbrains Garage Ventures IPO allotment status?
The basis of allotment is expected to be finalised on Monday, 10 November 2025. After that, search by PAN, application number or DP/client ID on the registrar's website (MUFG Intime India Private Limited), the NSE website or the BSE website. Shares that are allotted are credited to your demat account; for an application that is not allotted, the blocked amount is released.
How will the money raised be used?
₹152.5 Cr for cloud infrastructure expenditure, ₹225 Cr for brand building and performance marketing, ₹205 Cr for capital infusion into subsidiary Groww Creditserv Technology (NBFC), ₹167.5 Cr for funding margin trading facility business of subsidiary Groww Invest Tech, ₹265.98 Cr for inorganic growth through unidentified acquisitions and general corporate purposes.
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Spotted something wrong?
Our data comes from official offer documents, but mistakes can slip through. Report an error and tell us which figure looks wrong and where you saw the correct one (the offer-document page number helps). For anything else, see Contact.