Billionbrains Garage Ventures, the parent company of investment platform Groww, has submitted documentation for an initial public offering (IPO) aimed at raising ₹1,060 crore through a fresh issue of shares. Additionally, existing investors plan to offer ₹5,000-6,000 crore as part of the offer for sale (OFS).
The founders, who hold a collective 27.97 percent stake, have been categorized as promoters and will face a lock-in period of one and a half years following the IPO listing. They intend to sell only 0.07 percent of their equity during this offering.
This filing follows the recent approval from the Securities and Exchange Board of India (SEBI) for Groww’s proposed IPO. The Bengaluru-based firm had made a confidential application in May and is aiming for a listing later this calendar year. In the coming weeks, the company is expected to finalize the total issue size, which will include the OFS and the company’s valuation.
Founded in 2016, Groww has distinguished itself as one of India’s most profitable new-age start-ups, distinguishing itself from many of its publicly listed counterparts. The company reported a profit of ₹1,824 crore and revenue of ₹4,056 crore for FY25, showcasing an industry-leading contribution margin of 85 percent and a net profit margin of 44 percent. In the first quarter of FY26, Groww recorded a net profit of ₹378 crore, reflecting an 11 percent increase year on year.
Groww attributes its robust performance to a direct-to-consumer approach, with over 80 percent of users acquired organically. The company boasts a retention rate of 77 percent over three years. Despite facing regulatory challenges in the derivatives market, which have impacted other brokerage firms, Groww has maintained strong earnings.
In terms of user growth, Groww has outperformed its competitors. In FY25, its active NSE client base increased by over 35 percent, while Angel One and Motilal Oswal reported growth rates of 24 percent and 15 percent, respectively. As of June 30, Groww served 12.6 million active NSE clients, capturing a 26.3 percent market share. The platform accounted for 45.5 percent of net NSE user additions and 25.8 percent of new demat account openings in the past year.
According to data from the Association of Mutual Funds in India (AMFI), Groww contributed ₹34,000 crore in systematic investment plan (SIP) inflows during FY25, which corresponds to an 11.8 percent market share. In the month of June alone, Groww facilitated two million new SIPs, representing one in three new SIPs initiated in India.
In addition to its core services, Groww has broadened its offerings to include wealth management, margin trading facilities (MTF), commodities, and loans against shares, which it anticipates will serve as future growth drivers.
Published on September 16, 2025.
