Groww IPO: A Staggering Success in the Financial Landscape
Groww's parent company, Billionbrains Garage Ventures, raised over Rs 2,984 crore from anchor investors ahead of its Rs 6,632 crore IPO. The public offering will open on November 4, targeting a valuation over Rs 61,700 crore. Proceeds will fund tech development, business expansion, and brand building.
- Country:
- India
Billionbrains Garage Ventures, the parent company of Groww, a leading stock broking firm, successfully raised over Rs 2,984 crore from anchor investors. Notable participants included Abu Dhabi Investment Authority and the Government of Singapore, just before the company's significant Rs 6,632 crore initial public offering.
The IPO aims to hit public markets on November 4, with a price band set between Rs 95 and Rs 100 per share, seeking a valuation exceeding Rs 61,700 crore. This pivotal financial move includes a fresh equity issue and an Offer For Sale by promoters and existing shareholders.
Proceeds from the IPO are earmarked for technological enhancements and business expansion. Despite tightened financial regulations, Groww reported a robust profit surge to Rs 1,824 crore in FY25. The company also targets brand building and capital investments in its NBFC arm, Groww Creditserv Technology Private Limited.
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