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6h ago

Groww Sets Rs 95–100 IPO Price Band, Targets $7 Billion Valuation

Proceeds will fund technology, marketing, cloud infrastructure, NBFC capital, margin trading.

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Groww IPO
Nuvama said Groww’s F&O revenue contribution to total broking revenue during FY24–Q1FY26 may have declined 2814 bps from 90.2 per cent to 62 per cent

Overview

  • The Rs 6,632 crore offering opens to the public on November 4 and closes November 7, with anchor bidding on November 3 and a listing slated for November 12.
  • The issue comprises a Rs 1,060 crore fresh issue alongside a sizable offer for sale by early investors and promoters, with founders selling only 0.07% and each offering up to 1 million shares.
  • At the top of the price band, Groww’s implied market value is about Rs 61,735 crore (roughly $7 billion), implying a FY25 P/E of 31.35 on diluted EPS.
  • Earmarked uses include Rs 225 crore for brand building, Rs 205 crore for the NBFC arm (GCS), Rs 167.5 crore to fund margin trading via GIT, and Rs 152.5 crore for cloud capacity, with the balance for acquisitions and general corporate purposes.
  • Allocation is split 75% to qualified institutional buyers, 15% to non-institutional investors and 10% to retail, as filings highlight 12.6 million active clients, roughly 26% market share and FY25 profit of about Rs 1,824 crore.