Billionbrains Garage Ventures IPO
Bookbuilding IPO | ₹6,632.00 Cr | Listing at BSE, NSE
IPO Open
Tue, Nov 04, 2025
IPO Close
Fri, Nov 07, 2025
Price Band
₹95.00 to ₹100.00
Market Cap (Pre-IPO)
₹61,735.97 Cr
IPO Details
| IPO Date | Nov 04, 2025 to Nov 07, 2025 |
| Listing Date | Tentative: Nov 12, 2025 |
| Face Value | ₹2.00 per share |
| Price Band | ₹95.00 to ₹100.00 |
| Lot Size | 150 Shares (Minimum: ₹15,000.00) |
| Sale Type | Offer For Sale + Fresh Issue |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Issue Size | ₹6,632.00 Crores |
| Total Shares Offered | 663,230,051 shares |
| Fresh Issue | 106,000,000 shares |
| Offer For Sale | 557,230,051 shares |
Subscription Data
| Category | Times Subscribed |
|---|---|
| QIB | 22.02x |
| NII | 14.20x |
| RII | 9.43x |
| Total | 17.60x |
Billionbrains Garage Ventures IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | 49,74,22,539 (75.00%) |
| Retail Shares Offered | 6,63,23,005 (10.00%) |
| NII Shares Offered | 9,94,84,507 (15.00%) |
Billionbrains Garage Ventures IPO Lot Size
Investors can bid for a minimum of 150 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 150 | ₹15,000 |
| Retail (Max) | 13 | 1,950 | ₹195,000 |
| S-HNI (Min) | 14 | 2,100 | ₹210,000 |
| S-HNI (Max) | 66 | 9,900 | ₹990,000 |
| B-HNI (Min) | 67 | 10,050 | ₹1,005,000 |
Billionbrains Garage Ventures Financial Information (Restated Consolidated)
Billionbrains Garage Ventures Ltd.'s revenue increased by 45% and profit after tax (PAT) rose by 327% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 30 Jun 2025 | 31 Mar 2025 | 30 Jun 2024 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|---|
| Assets | 12,713.18 | 10,077.31 | 10,819.10 | 8,017.97 | 4,807.78 |
| Total Income | 948.47 | 4,061.65 | 1,047.58 | 2,795.99 | 1,260.96 |
| Profit After Tax | 378.37 | 1,824.37 | 338.01 | -805.45 | 457.72 |
| EBITDA | 418.75 | 2,371.01 | 482.66 | 780.88 | 398.78 |
| NET Worth | 5,995.45 | 4,855.35 | 2,886.28 | 2,542.64 | 3,316.75 |
| Reserves and Surplus | 5,506.78 | 3,251.92 | 2,821.41 | 2,477.76 | 4,445.63 |
| Total Borrowing | 324.08 | 351.99 | 117.66 | 24.06 | 0.00 |
Amount in ₹ Cr
Key Performance Indicators
As of Monday, March 31, 2025| KPI | Values |
|---|---|
| ROE (Return on Equity) | 0.00% |
| ROCE (Return on Capital Employed) | 0.00% |
| RoNW (Return on Net Worth) | 37.57% |
| PAT Margin (Profit After Tax Margin) | 44.92% |
| EBITDA Margin | 59.11% |
| Price to Book Value | 11.76 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 3.01 | 2.45 |
| P/E (x) | 33.26 | 40.79 |
| Promoter Holding | 28.00% | 27.53% |
Company Promoters
- Lalit Keshre
- Harsh Jain
- Ishan Bansal and Neeraj Singh are the promoters of the company.
Company Overview
Billionbrains Garage Ventures Limited was incorporated on January 9, 2018. It is the parent company of Groww, a Bengaluru-based direct-to-customer (D2C) digital investment platform that provides investors wealth creation opportunities through multiple financial products and services.
The company offers a platform to invest in stocks, directly-only mutual funds, IPOs, ETFs, NFOs, bonds, and digital gold in the form of gold ETFs and gold funds.
Further, traders can use the Groww app to trade in F&O, commodities, and intraday.
For advanced traders, Groww has introduced 915 by Groww, a pro-trading web-based terminal for high-frequency trading.
Groww also offers value-added services such as Margin Trading Facility (MTF), APIs for algorithmic trading, and credit solutions.
Business Model
- Growing its customer base and
- Expanding its relationship with customers
Products & Services:
- Broking services which includes Stocks and Derivatives
- Products which includes Mutual Funds and Groww AMC
- Margin Trading Facility (MTF) & Credit Solution
As of June 30, 2025, the company had 1415 employees.
Company Strengths
- “Groww” is a well-known and preferred brand for investing across cities, towns and villages in India.
- High customer retention, engagement and price in-elasticity.
- Customer-friendly design for enhancing investing experience.
- In-house technology stack to deliver a differentiated experience at low cost.
- Entrepreneurial and ownership-driven culture
- Strong execution delivering growth and profitability
Use of Proceeds
| 1) | Expenditure towards cloud infrastructure | 152.50 |
| 2) | Brand building and performance marketing activities | 225.00 |
| 3) | Investment in one of our Material Subsidiaries, GCS, an NBFC, for augmenting its capital base | 205.00 |
| 4) | Investment in one of our Material Subsidiaries, GIT, for funding its MTF business | 167.50 |
| 5) | Funding inorganic growth through unidentified acquisitions and general corporate purposes | 265.98 |
Objectives
The Company Groww IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
Billionbrains Garage Ventures IPO Peer Comparison
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| Billionbrains Garage Ventures Ltd. | 3.34 | 3.19 | 8.89 | 0.00 | 37.57 | 0.00 | Consolidated |
| Angel One Limited | 130.05 | 126.82 | 623.72 | 19.80 | 20.85 | 0.00 | Consolidated |
| Motilal Oswal Financial Services Limited | 41.83 | 41.00 | 185.24 | 24.88 | 22.64 | 0.00 | Consolidated |
| 360 One Wam Limited | 27.14 | 26.08 | 188.89 | 45.20 | 14.37 | 0.00 | Consolidated |
| Nuvama Wealth Management Limited | 276.66 | 268.54 | 979.11 | 26.85 | 28.22 | 0.00 | Consolidated |
| Prudent Corporate Advisory Services Limited | 47.25 | 47.25 | 161.25 | 58.92 | 29.30 | 0.00 | Consolidated |
Quick Info
| Sector | Fintech |
| Exchange | BSE, NSE |
| Market Cap (Pre-IPO) | ₹61,735.97 Cr |
Important Dates
| IPO Open | Nov 04, 2025 |
| IPO Close | Nov 07, 2025 |
| Allotment Date | Nov 10, 2025 |
| Credit to Demat | Nov 11, 2025 |
| Listing Date | Tentative: Nov 12, 2025 |
Lead Manager(s)
Kotak Mahindra Capital Co.Ltd.
Registrar
MUFG Intime India Pvt.Ltd.
+91-22-4918 6270
Description
- Groww IPO is a book build issue of ₹6,632.30 crores. The issue is a combination of fresh issue of 10.60 crore shares aggregating to ₹1,060.00 crores and offer for sale of 55.72 crore shares aggregating to ₹5,572.30 crores.
- Groww IPO bidding started from Nov 4, 2025 and ended on Nov 7, 2025. The allotment for Groww IPO was finalized on Nov 10, 2025. The shares got listed on BSE, NSE on Nov 12, 2025.
- Groww IPO price band is set at ₹100.00 per share . The lot size for an application is 150. The minimum amount of investment required by an retail is ₹15,000 (150 shares) (based on upper price). The lot size investment for sNII is 14 lots (2,100 shares), amounting to ₹2,10,000, and for bNII, it is 67 lots (10,050 shares), amounting to ₹10,05,000.