Groww's Rs 6,632 Crore IPO Achieves 1.64 Times Subscription: India's Largest Stockbroker Heading for November 12 Market Debut

Groww's Rs 6,632 crore IPO is set to conclude on Friday after achieving full subscription on its second day of share sale.

Billionbrains Garage Ventures, the parent company of stock broking firm Groww, witnessed its initial public offering being fully subscribed on Thursday, ending the day with 1.64 times subscription.

According to data available with the NSE, the company's IPO received bids for 59,82,34,950 shares against 36,47,76,528 shares on offer, translating to 1.64 times subscription.

Retail Individual Investors segment showed strong interest with 5.02 times subscription, while the non-institutional investors quota reached 2.26 times subscription. The Qualified Institutional Buyers category secured 20 percent subscription.

Billionbrains Garage Ventures successfully raised over Rs 2,984 crore from anchor investors on Monday.

The company has established a price band of Rs 95-100 per share for its Rs 6,632 crore IPO, aiming for a valuation exceeding Rs 61,700 crore (approximately USD 7 billion).

The IPO structure includes a fresh issue of equity shares worth Rs 1,060 crore alongside an Offer-for-Sale component of 55.72 crore equity shares.

Backed by prominent investors including Peak XV, Tiger Capital, and Microsoft CEO Satya Nadella, the company plans to utilize IPO proceeds for technology development and business expansion.

From the fresh issuance, Rs 225 crore will be directed toward brand building and performance marketing activities, while Rs 205 crore will be invested in Groww Creditserv Technology Pvt Ltd, the company's NBFC arm, to strengthen its capital base.

Furthermore, Rs 167.5 crore will be infused into Groww Invest Tech Pvt Ltd to fund its margin trading facility business, and Rs 152.5 crore has been allocated to enhance cloud infrastructure.

The remaining funds will support inorganic growth through acquisitions and general corporate purposes.

Bengaluru-headquartered Groww filed draft papers with market regulator Sebi in May through a confidential pre-filing route and received approval in August.

The company opted for the confidential pre-filing approach, allowing it to withhold public disclosure of IPO details until later stages—a strategy gaining popularity among Indian firms seeking flexibility in their IPO plans.

Founded in 2016, Groww has emerged as India's largest stockbroker, boasting over 12.6 million active clients and commanding a market share exceeding 26 percent as of June 2025.

Groww is scheduled to make its stock market debut on November 12.