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Billionbrains Garage Ventures Ltd. IPO (Groww IPO)

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Overview

Billionbrains Garage Ventures Limited, operating as Groww, is a direct-to-customer digital investment platform in India, offering a wide array of financial products and services. The platform caters to a diverse and young customer base across India, enabling them to invest and trade in stocks, derivatives, bonds, and mutual funds. Additionally, Groww provides access to credit products like Margin Trading Facility (MTF) and personal loans. The company emphasizes a customer-first approach, leveraging its in-house technology to deliver a simple, transparent, and user-friendly investing experience through its mobile app and website.

Opening Date

Nov 04, 2025

Closing Date

Nov 07, 2025

Listing Date

Nov 12, 2025

IPO Type

Mainboard

IPO Status

Upcoming

Issue Size

1060 Cr

Fresh Issue

1060 Cr

Offer for Sale

5572.3 Cr

Price Band

₹95 - ₹100

Lot Size

150

IPO Timeline

Nov 04, 2025

Open Date

Nov 07, 2025

Close Date

Nov 10, 2025

Allotment Date

Nov 11, 2025

Initiation of Refunds

Nov 12, 2025

Listing Date

Financials

Revenue

Profit After Tax (PAT)

IPO Objective

The net proceeds from the Fresh Issue are proposed to be utilized for the following objectives:

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To fund expenditure towards enhancing cloud infrastructure, including investments in cloud capacity, storage, networking, and analytics to support the platform's scalability and high transaction volumes.
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To invest in brand building and performance marketing activities to drive customer acquisition, increase brand awareness, and promote new product offerings like 'W by Groww' across digital and traditional media channels.
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To augment the capital base of its Material Subsidiary, Groww Creditserv Technology Private Limited (GCS), a non-banking financial company, to meet future capital requirements arising from business growth.
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To invest in its Material Subsidiary, Groww Invest Tech Private Limited (GIT), to fund the expansion of its margin trading facility (MTF) business and support its growing loan book.
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To fund inorganic growth opportunities through unidentified strategic acquisitions and for general corporate purposes to strengthen its market position and expand business operations.

Key Performance Indicator

P/E Ratio

—

EPS

—

ROE

37.57%

ROCE

—

RONW

37.57%

Debt to Equity Ratio

—

PAT Margin

44.92%

EBITDA Margin

59.11%

P/B

11.76

SWOT Analysis

Strengths

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Strong and widely recognized 'Groww' brand with high search interest and organic customer acquisition, reducing marketing costs.
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High customer retention and engagement driven by a user-friendly, technology-led platform designed for a seamless investing experience.
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Diverse and rapidly growing user base across India, including a large proportion of young and new-to-market investors.
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Scalable in-house technology infrastructure that supports a wide range of financial products and high transaction volumes.

Weaknesses

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High revenue concentration in broking services, making the business susceptible to market volatility and regulatory changes in that segment.
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Limited operating history for newer products like wealth management, credit, and MTF, leading to uncertainty in their long-term performance.
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History of operational losses and negative cash flows, indicating challenges in sustaining profitability while scaling the business.
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Past instances of technical glitches and platform downtime which could potentially erode customer trust and affect operations.

Opportunities

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Significant growth potential due to low capital market penetration in India compared to developed economies.
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Structural shift in household savings from physical assets to financial assets, increasing the total addressable market.
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Growing affluent population in India provides a strong target market for new wealth management and premium services.
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Ability to diversify revenue streams by expanding into new product verticals such as credit, insurance, and wealth advisory services.

Threats

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High dependence on the health of financial markets; economic downturns can reduce trading volumes and user growth.
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Intense competition from established bank-led brokers, other digital-first platforms, and new entrants in the fintech space.
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Evolving regulatory environment, with changes from authorities like SEBI and RBI potentially impacting revenue models and compliance costs.
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Increasing cybersecurity threats, data privacy risks, and reliance on third-party infrastructure which could lead to service disruptions.

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