The initial public offering (IPO) of Billionbrains Garage Ventures, the parent company of stockbroking platform Groww, saw robust demand, being subscribed nearly 17 times by the close of bidding on November 7. The ₹6,632-crore issue attracted bids for over 619 crore shares against 36.47 crore on offer, according to NSE data at 4 p.m. on the final day.
Retail investors subscribed nine times their quota, non-institutional investors 14 times, and qualified institutional buyers (QIBs) 22 times. Earlier, the company had raised ₹2,984 crore from anchor investors.
In the grey market, Groww’s shares were trading at a premium of ₹9, reflecting a 9% expected listing gain. The IPO was priced between ₹95 and ₹100 per share, valuing the company at around ₹61,700 crore. Founded in 2016, Groww has become India’s largest stockbroker, with 12.6 million active clients and a 26% market share as of June 2025. The share allotment is expected on November 4, and the listing is scheduled for November 12.
