As of November 6, Groww’s IPO is commanding a grey market premium of ₹13, or 13% above its issue price of ₹100. This indicates a likely listing price of around ₹114, signaling strong investor demand and upbeat sentiment ahead of its market debut.
IPO Structure
Groww’s ₹6,632 crore IPO consists of a ₹1,060 crore fresh issue and a ₹5,572 crore offer for sale by existing shareholders. Proceeds from the fresh issue will fund cloud infrastructure, brand and marketing initiatives, and capital infusion into subsidiaries Groww Creditserv Tech and Groww Invest Tech. The IPO, managed by Kotak Mahindra Capital, JP Morgan, Citigroup, Axis Capital, and Motilal Oswal, will be open from November 4–7, with allotment on November 10 and listing on November 12.
Company Financials
In FY25, Groww reported a 49% YoY rise in operating revenue to ₹3,901 crore and a PAT of ₹1,824 crore, marking a sharp turnaround. EBITDA margin improved to 60.8%, supported by its asset-light model and high customer retention. Around 78% of new users came through organic channels, lowering acquisition costs. The platform’s ARPU rose to ₹3,339 in FY25 from ₹2,541 in FY23, driven by higher engagement from affluent investors.