Billionbrains Garage Ventures Limited, the parent company of Groww, has reportedly set the price band for its upcoming initial public offering (IPO) between ₹95 and ₹100 per share, according to sources familiar with the matter. The fintech firm aims to raise about ₹7,000 crore through the public issue, valuing it at approximately ₹68,000 crore (around USD 8 billion) — surpassing Angel One, its closest listed peer in India’s brokerage sector.
Despite the strong demand in the grey market, where Groww’s shares were trading around ₹128 on October 29, the IPO pricing appears to be set at a discount. Bankers associated with the issue said the move was intentional, aimed at leaving room for retail investors to gain post-listing.
“The discounted price band will help Groww’s customers become shareholders and participate in the company’s growth story,” said a banker involved in the deal, requesting anonymity.
Founded in 2016 by former Flipkart employees Lalit Keshre, Harsh Jain, Ishan Bansal, and Neeraj Singh, Groww has emerged as a market leader in stockbroking and mutual fund distribution, serving over 14 million active retail investors.
The IPO will comprise both a fresh issue and an offer for sale (OFS), with the company expected to raise around ₹1,060 crore in fresh capital. Existing investors including Peak XV Partners, Ribbit Capital, Y Combinator, and Tiger Global are expected to partially offload their stakes as part of the offering.
Groww has become one of the fastest-growing digital investment platforms in India, with its simplified app-based model helping deepen retail participation in equities and mutual funds across smaller cities.
Disclaimer: This article is for informational purposes only and is not an investment recommendation or financial advice. Readers are encouraged to consult their financial advisors before making any investment decisions related to IPOs or securities markets.
