- POSITIVE
Annual Revenue Groww Mar-2026 Annual Revenue is Rs 3,333 Cr which is growth of 14.5% YoY.
- POSITIVE
Annual Net Profit Groww Mar-2026 Annual Net Profit is Rs 1,630 Cr which is growth of 9.3% YoY.
Billionbrains Garage Ventures was incorporated on May 22, 2007. The company operates a direct-to-customer digital investment platform, offering stocks, mutual funds, derivatives, bonds, margin trading, and personal loans. As India’s largest investment platform by active NSE users (June 30, 2025), it provides tools and insights through a user-friendly app and proprietary technology
| Bidding Dates |
|---|
| 04 Nov 2025 - 07 Nov 2025 |
| Subscription |
|---|
| 17.6x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,250 | 1 | 13 | 150 | 663.2 M | ₹95 - ₹100 | 27.81 % | ₹63,006.9 M - ₹66,323.0 M | RHP DOC |
Billionbrains Garage Ventures (Groww) IPO SUBSCRIPTION STATUS
07 Nov '25Total17.6x
Retail Individual Investor9.43x
HNI (NII) Investors14.2x
Qualified Institutional Buyers22.02x
Billionbrains Garage Ventures (Groww) IPO overall subscription rate was 17.6 times the total available shares
Billionbrains Garage Ventures (Groww) IPO retail subscription rate was 9.43 times in the retail segment
Billionbrains Garage Ventures (Groww) IPO non-institutional investor subscription rate was 14.2 times in the non-institutional investor category
Billionbrains Garage Ventures (Groww) IPO Qualified Institutional Bidder subscription rate was 22.02 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 10% | 15% | 75% |
07 Nov 2025 (Day 3) | 9.43x | 14.2x | 22.02x |
06 Nov 2025 (Day 2) | 5.02x | 2.26x | 0.2x |
04 Nov 2025 (Day 1) | 1.91x | 0.59x | 0.1x |
Billionbrains Garage Ventures (Groww) FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| Q1FY26 | 904.4 | 378.4 | -137.9 | -140.7 | 56.1% |
| Q1FY25 | 1,000.8 | 338.0 | 179.2 | 178.0 | 58.3% |
| FY25 | 3,901.7 | 1,824.4 | -962.2 | -978.6 | 59.1% |
| FY24 | 2,609.3 | -805.5 | 885.0 | 878.4 | 56.4% |
| FY23 | 1,141.5 | 457.7 | 547.8 | 537.7 | 36.5% |
Billionbrains Garage Ventures (Groww) IPO SUBSCRIPTION STATUS DETAILS
Billionbrains Garage Ventures (Groww) had 663.2 M shares on offer
Billionbrains Garage Ventures (Groww) IPO offer price was in the range ₹95 - ₹100
Billionbrains Garage Ventures (Groww) IPO minimum Investment was ₹14250
Billionbrains Garage Ventures (Groww) IPO issue size was ₹ 63,006.9 M - ₹ 66,323.0 M
Billionbrains Garage Ventures (Groww) had a minimum lot size of 150 Shares per application
Billionbrains Garage Ventures (Groww) NUMBER OF SHARES ON OFFER
Total663.2 M
Fresh Issue106.0 M
Offer for Sale557.2 M
Post Issue Promoter Holding %27.81 %
Billionbrains Garage Ventures (Groww) IPO IMPORTANT DATES
| Issue Open Date | 04 Nov 2025 |
| Issue close Date | 07 Nov 2025 |
| Allotment Date | 10 Nov 2025 |
| Refund Date | 11 Nov 2025 |
| Demat Account Credit Date | 11 Nov 2025 |
| Listing Date | 12 Nov 2025 |
| Listing on Exchange(s) | NSE and BSE |
| Billionbrains Garage Ventures (Groww) Allotment Status | Exchange/ Registrar |
Billionbrains Garage Ventures (Groww) IPO subscription opened on 04 Nov 2025, and closed on 07 Nov 2025
IPO allotment for Billionbrains Garage Ventures (Groww) was finalized on Monday, 10 Nov 2025
IPO listing for Billionbrains Garage Ventures (Groww) was on NSE and BSE on Wednesday, 12 Nov 2025
Billionbrains Garage Ventures (Groww) IPO LISTING GAINS
| Issue Price (adjusted) | 100.0 |
| Listing Open Price | 112.0 |
| Listing Close Price | 131.3 |
| Listing Gain% | 12.0% |
| Current Gain% | 91.8% |
Billionbrains Garage Ventures (Groww) Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Billionbrains Garage Ventures Ltd. | 191.8 | 118384.9 | 49.3 | 1.6 | 23 | 21.6 | 11.2 | 4815.9 | 18.6 | 2083 | 14.2 | 3.9 | 30.8 |
| BSE Ltd. | 3266.4 | 132658 | 46.8 | 0.6 | 22.9 | 37.4 | 18.6 | 5148.1 | 59.1 | 2497 | 88.3 | 69.7 | 76.9 |
| Multi Commodity Exchange of India Ltd. | 3260 | 83127.3 | 53.9 | 0.4 | 31.6 | 46.8 | 17.8 | 2429 | 100.9 | 1331.6 | 137.8 | 60.5 | 136.4 |
| Motilal Oswal Financial Services Ltd. | 1010 | 60900.7 | 30.8 | -1.1 | 6.1 | 14.5 | 4.3 | 9416.4 | 11.9 | 1869.3 | -25.3 | 32.8 | -28.8 |
| 360 One Wam Ltd. | 1073.1 | 43773.3 | 34.7 | 1.8 | 9.4 | 12.4 | 4.5 | 4477.3 | 21.5 | 1216.2 | 19.8 | 30.9 | 19.5 |
| Anand Rathi Wealth Ltd. | 2229.4 | 37017.2 | 79.6 | 1.8 | 30.9 | 39.7 | 29.8 | 1253.1 | 27.8 | 395.9 | 32 | 28 | 45.2 |
Quarterly
Annual
Balance Sheet
Ratios
Cash Flow
Billionbrains Garage Ventures (Groww) annual results: revenue, profit, P&L, and margins as of Mar 2026 – 11 year history
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Standalone
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Actual
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Total Rev. Ann.
1Y CHG
14.5%
2Y CAGR
25.5%
3Y CAGR
48.9%
Net Profit Ann.
1Y CHG
9.3%
3Y CAGR
60.2%
Operating Exp. Ann.
1Y CHG
24.8%
2Y CAGR
-18.8%
3Y CAGR
24.8%
Billionbrains Garage Ventures (Groww) INFORMATION ON IPO ISSUE
About Billionbrains Garage Ventures (Groww)
Billionbrains Garage Ventures was incorporated on May 22, 2007. The company operates a direct-to-customer digital investment platform, offering stocks, mutual funds, derivatives, bonds, margin trading, and personal loans. As India’s largest investment platform by active NSE users (June 30, 2025), it provides tools and insights through a user-friendly app and proprietary technology
Object of the Issue
- Expenditure towards cloud infrastructure
- Brand building and performance marketing activities
- Investment in one of its material subsidiaries, Groww Creditserv Technology (“GCS”), a non-banking financial company (“NBFC”), for augmenting its capital base
- Investment in one of its material subsidiaries, Groww Invest Tech (“GIT”), for funding its margin trading facility (“MTF”) business
- Funding inorganic growth through unidentified acquisitions and general corporate purposes
Billionbrains Garage Ventures (Groww) - PROMOTERS
| Name |
|---|
| Lalit Keshre |
| Harsh Jain |
| Ishan Bansal |
| Neeraj Singh |
Billionbrains Garage Ventures (Groww) - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Gaurang Shah | Chairman & Independent Director |
| Lalit Keshre | Whole-Time Director & Chief Executive Officer |
| Harsh Jain | Whole-Time Director & Chief Operating Officer |
| Ishan Bansal | Whole-Time Director & Chief Financial Officer |
| Neeraj Singh | Whole-Time Director & Chief Technology Officer |
| Ashish Agrawal | Nominee Director |
| Neetu Kashiramka | Independent Director |
| Ankit Nagori | Independent Director |
| Neeru Chaudhry | Independent Director |
Billionbrains Garage Ventures (Groww) Book Running Lead Manager
Kotak Mahindra Capital Company Limited
groww.ipo@kotak.com
J.P. Morgan India Private Limited
groww_ipo@jpmorgan.com
Citigroup Global Markets India Private Limited
groww.ipo@citi.com
Axis Capital Limited
groww.ipo@axiscap.in
Motilal Oswal Investment Advisors Limited
groww.ipo@motilaloswal.com
Billionbrains Garage Ventures (Groww) Registrar to the Offer
MUFG Intime India Private Limited
groww.ipo@in.mpms.mufg.com
Billionbrains Garage Ventures (Groww) Strengths
High customer retention
The company maintains ongoing engagement with customers beyond transactions, using personalised updates, news, and insights to build trust and long-term relationships. This engagement helps introduce new products and supports informed investment decisions
Strength
In-house technology
The company develops most of its technology in-house, enabling faster responses to customer demands and regulatory changes. This supports continuous innovation, platform reliability, and business continuity
Strength
Well-known & preferred brand
Groww leads retail investing in India, showing the highest Google search interest among the top 10 brokers and strong customer trust. Between FY22 and June 2025, it has captured the largest share of new app downloads (38.18%) and demonstrated strong organic customer acquisition
Strength
Billionbrains Garage Ventures (Groww) Risks
Downturn or disruption of financial markets
Groww’s business is closely tied to the financial markets in India, making it sensitive to domestic and global economic, political, and market conditions. Factors such as GDP fluctuations, policy changes, interest rates, inflation, geopolitical tensions, and global economic instability can materially impact investor sentiment, market activity, and the company’s financial performance
Risk
Cybersecurity, data or privacy breach
Groww is exposed to cybersecurity, data, and privacy risks, including hacking, phishing, and system breaches, which could disrupt operations or compromise sensitive company and customer data. Increasing digitisation and integrations with third-party vendors further heighten these risks, potentially affecting its reputation, brand, and financial performance
Risk
Statutory & regulatory licenses
Groww and its subsidiaries must maintain various statutory and regulatory licenses, registrations, and authorisations to operate. Non-compliance or failure to renew these, or to meet regulatory requirements from bodies like SEBI, RBI, stock exchanges, NPCI, and AMFI, could materially impact the company’s business, financial condition, and operations
Risk
IPO FAQs
This IPO consists of an offer for sale of up to Rs 5,572.3 crore, of 557,230,051 shares. It also consists of a fresh issue of Rs 1,060.0 crore.
The promoters of the company are Lalit Keshre, Harsh Jain, Ishan Bansal and Neeraj Singh.
The category allocation of qualified institutional buyers is 75.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 10.0%.
The price band of the IPO is Rs 95.0 - 100.0.
The IPO application opens on Nov 04, 2025 and closes on Nov 07, 2025.
The minimum lot size for the IPO is 150. The maximum lot size for the IPO is 1950.
For all category investors, the minimum application amount for this IPO is Rs. 14,250.0, the maximum value for this IPO is Rs 195,000.0.
This IPO will be allotted on Nov 10, 2025.
The refund will be credited to your account on Nov 11, 2025.
The allotted shares will be credited to your demat on Nov 11, 2025.
Billionbrains Garage Ventures Ltd. (Groww)’s shares listed on the stock exchanges on Nov 12, 2025.