The highly anticipated initial public offering (IPO) of Billionbrains Garage Ventures, the parent company of the investment and trading platform Groww, received a modest response on its opening day, achieving an overall subscription rate of 57 percent.
Strong demand was noted from retail investors, with their portion of the offering subscribed 1.91 times. However, interest was moderate among non-institutional investors, who subscribed at a rate of 0.59 times, while participation from qualified institutional buyers was minimal, with a subscription rate of just 0.10 times.
The company aims to raise approximately ₹6,632.3 crore through the IPO, which is priced within a band of ₹95 to ₹100 per share. The offering consists of a fresh issue of equity amounting to ₹1,060 crore, alongside an offer-for-sale (OFS) component of 55.72 crore equity shares from promoters—Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal—as well as investor shareholders including Peak XV Partners Investments VI-1, YC Holdings II, Ribbit Capital V, GW-E Ribbit Opportunity V, Internet Fund VI Pte Ltd, and Kauffman Fellows Fund LP.
The IPO requires a minimum lot size of 150 equity shares, and the company has already raised ₹2,984.5 crore from anchor investors.
Funds generated from the fresh issue will be allocated toward cloud infrastructure and technological upgrades, marketing and brand development initiatives, capital infusion into subsidiaries—including its non-banking financial company (NBFC) arm and margin-trading operations—as well as other general corporate purposes.
The IPO was published on November 4, 2025.
