Groww seeks valuation of ₹61,700 cr in IPO; sets price band ₹95-100/share

The digital investment platform's IPO will open on November 4, with Tiger Global and Peak XV Partners set to pare holdings amid a boom in retail participation

Billionbrains Garage Ventures, the parent of digital investment platform Groww, has set a price band of ₹95-100 per share for its ₹6,632 crore initial pu­blic offering (IPO).

 

At the top end, the company will be valued at ₹61,736 crore ($7 billion). The IPO — one of the largest this year — will open for subscription between November 4 and 7.

 

It comprises a fresh issue worth ₹1,060 crore and an offer for sale of ₹5,572 crore, with early investors, such as Tiger Global and Peak XV Partners, offloading part of their holdings. Proceeds from the fresh issue will be used to strengthen the company’s Cloud infrastructure, invest in subsidiaries, and fu­nd potential acquisitions. Groww’s public offering comes am­id a surge in retail investors entering the securities mar­ket, both through direct equity investing and mutual fund channels.  

The company is India’s largest broker, accounting for about a fourth of the country’s active clients. Nearly a third of systematic investment plans (SIPs) are routed through its platform. Groww aims to become India’s leading wealth platform, said Lalit Keshre, cofounder and chief executive officer (CEO) of Billionbrains Garage Ventures. “We want to be a multiproduct platform that offers everything you need to build wealth,” Keshre told Business Standard. 

He said the company is currently focused on scaling its recently-launched wealth manag­ement platform for high-net-worth individuals, branded “W,” along with its margin trading facility (MTF). “We will expand further once these products achieve full adoption. Our laun­ches are sequenced carefully,” Keshre added. 

Groww recently introduced commodity trading services and, in July, enabled bond purchases through its app. Keshre attributed the company’s rapid growth to strong tailwinds such as improved digital infrastructure, deeper internet penetration, and poli­cy shifts leading to greater financialisation of savings. 

 

These factors, he said, have eas­ed customer onboarding and supported long-term growth.

 

On the impact of new regulations, including Sebi’s revised derivatives framework and updated true-to-label norms, Keshre said Groww’s multiproduct strategy has made it more resilient to industry disruptions compared to its peers.

 

Groww’s commission and fee income declined to ₹729 crore for the quarter ended June 2025, from ₹883 crore in the same period a year earlier.

 

Studds Accessories’ public issue sails through on first day 

 

The initial public offering (IPO) of helmets manufacturer Studds Accessories sailed through on the first day of share sale on Thursday. The company’s IPO received bids for 84,15,400 shares against 54,50,284 shares on offer, translating into 1.54 times subscription, according to details available with the NSE.

 

Retail individual investors category attracted 2.16 times subscription, while the quota for non-institutional investors got subscribed 2.14 times. The qualified institutional buyers category received 2 per cent subscription. (PTI)

 

Orkla India IPO subscribed 2.7x  on Day 2 of bidding

 

The initial public offering (IPO) of Orkla India, which owns spices and condiments brands MTR and Eastern, got fully subscribed on the second day of bidding on Thursday. 

The IPO received bids for 4,32,53,940 shares against 1,59,99,104 shares on offer, translating into 2.70 times subscription, according to NSE data. Among investor categories, non-institutional inv­es­tors part fetched 7.59 times subscription, while the quota for retail individual investors got subscribed 2.11x.  ( PTI)