Groww IPO Set to Unlock Massive Market Potential

Billionbrains Garage Ventures, the parent company of growing stock broking firm Groww, has set a price band of Rs 95-100 per share for its upcoming Initial Public Offering (IPO). The move aims to capture a valuation soaring over Rs 61,700 crore, or approximately USD 7 billion. The substantial Rs 6,632-crore IPO will be open for public subscription from November 4 to 7, with retail investor bidding slated for November 3.

The IPO will showcase a fresh issue of equity shares valued at Rs 1,060 crore. Additionally, an Offer For Sale (OFS) features 574,190,754 equity shares from promoters and investors. Key promoters, including Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal, along with investors like Peak XV Partners and Ribbit Capital, are shedding shares. Groww plans to utilize the IPO proceeds for technology enhancements and business expansion.

From the fresh capital, Rs 225 crore is earmarked for brand building and performance marketing, aiming to fortify Groww's market presence. A further Rs 205 crore will bolster Groww Creditserv Technology Private Limited, its NBFC arm. Funds are also allocated for strengthening cloud infrastructure and facilitating acquisitions. With a robust clientele and significant market share, Groww's expansion into wealth management and new services remains on track.