New Delhi: India’s leading retail investment platform Groww, through its parent company Billionbrains Garage Ventures Ltd, made a successful stock market debut on Tuesday. Shares listed at ₹114 on BSE, a 14% premium, and at ₹112 on NSE, a 12% premium over the issue price of ₹100.
The Grey Market Premium (GMP) had indicated a 5% gain, but the stock opened well above expectations, trading at ₹120.75 at 10:16 am—6.75% higher than the listing price and 20.75% higher than the IPO price.
IPO Subscription Details
The IPO was open from 4 to 7 November 2025 and witnessed overwhelming investor interest, being subscribed 17.6 times. While only 36.47 crore shares were on offer, bids worth ₹641.86 crore were received.
- Retail Individual Investors (RII) category: 9.43x subscription (6.63 crore shares reserved)
- Non-Institutional Investors (NII): 14.20x subscription
- Qualified Institutional Buyers (QIBs): 22.02x subscription
Despite a softening of GMP close to listing, the actual listing outperformed expectations, rewarding early investors.
Company Background
Founded in 2017 by Lalit Keshre (former Flipkart executive), Harsh Jain, Ishan Bansal, and Neeraj Singh, Groww has rapidly become India’s largest retail investment platform. As of June 2025, it had 47.9 million active NSE users, a ninefold increase since 2016.
The IPO comprised a ₹1,060 crore fresh issue and a ₹5,572 crore Offer For Sale (OFS). Funds from the fresh issue will be utilized to strengthen cloud infrastructure, build the brand, and expand marketing efforts.
Investor Takeaway
The strong listing performance, surpassing GMP expectations, indicates positive market sentiment toward Groww. Retail and institutional investors alike have benefitted from the premium listing, highlighting confidence in the company’s growth trajectory and robust platform adoption.
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