Groww IPO: Price Band Set at Rs 95-100 for Rs 6,632 Crore Offer
Groww, India’s largest online investment platform, has announced a price band of Rs 95-100 per share for its Rs 6,632 crore initial public offering (IPO) opening on November 4. The company is targeting a valuation exceeding Rs 61,700 crore.
Key IPO Details
- Price Band: Rs 95-100 per share
- IPO Size: Rs 6,632.3 crore
- Fresh Issue: Rs 1,060 crore (106 million shares)
- Offer for Sale (OFS): Rs 5,572.3 crore (557.2 million shares)
- Valuation: Over Rs 61,700 crore
Prominent Investors and Shareholders
The company counts Peak XV, Tiger Capital, and Microsoft CEO Satya Nadella among its marquee backers. The OFS includes participation from promoters Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal, each offering up to 1 million shares.
Market Leadership and Financial Performance
Founded in 2016, Groww overtook Zerodha last year to become India’s largest brokerage with 12.6 million active demat accounts. The platform commands over 26% market share as of June 2025.
In FY25, Groww reported impressive financials:
- Net profit: Rs 1,824 crore
- Q1 FY26 profit: Rs 378 crore
- Contribution margin: 85% (industry-high)
- Net profit margin: 44%
Fund Utilization and Future Plans
The fresh issue proceeds will be allocated toward:
- Cloud infrastructure: Rs 152.5 crore
- Brand building: Rs 225 crore
- Subsidiary capital augmentation: Rs 205 crore
- MTF business investment: Rs 167.5 crore
The company has expanded into wealth management, commodities, and loans against shares as part of its long-term growth strategy.
