Groww’s ₹6,600 Crore IPO Opens After Strong Anchor Demand

India’s largest online investment platform, Groww, has launched one of the most anticipated initial public offerings (IPO) of 2025. The company has already raised ₹2,984.5 crore from its anchor investors on 3 November 2025, just a day before the public issue opened. The total IPO size stands at ₹6,632 crore, with a price band set between ₹95 and ₹100 per share.

The public subscription opened on 4 November 2025 and will close on 7 November 2025, with 5 November being a market holiday for Prakash Gurpurb. The IPO includes two parts, a fresh issue worth ₹1,060 crore and an offer for sale (OFS) of around ₹5,572 crore, where existing shareholders will sell 55.72 crore shares at the upper price band of ₹100.

The anchor book has drawn major global and domestic interest. Groww allotted 29.84 crore shares to 102 institutional investors at ₹100 per share. Of this, 17 domestic mutual funds across 54 schemes took up 13.89 crore shares, accounting for 46.6% of the anchor allocation and worth roughly ₹1,389.8 crore. Some of the global names participating in the anchor round include Goldman Sachs, Morgan Stanley, the Monetary Authority of Singapore, and the Abu Dhabi Investment Authority. This wide interest shows strong confidence from large institutional investors in Groww’s growth story.

From the fresh issue, Groww plans to use the proceeds for technology, marketing, and expansion. Around ₹152.5 crore will be spent on cloud infrastructure, while ₹225 crore will go toward brand-building and performance marketing. Another ₹205 crore will be used to increase the capital base of its NBFC arm, Groww Creditserv Technology Pvt Ltd, and ₹167.5 crore will help fund its margin trading facility (MTF) business run by Groww Invest Tech Pvt Ltd. The remaining amount will support acquisitions and general corporate purposes.

Founded by four ex-Flipkart employees - Lalit Keshre, Harsh Jain, Ishan Bansal, and Neeraj Singh, Groww has become a leading retail investment platform in India. As of June 30, 2025, it was the largest platform by active users on the NSE, reflecting its dominance in the online investing space. In the quarter ended June 2025, Groww reported a profit of ₹378.4 crore, up from ₹338 crore in the same quarter last year. However, revenue fell slightly to ₹904.4 crore from ₹1,000.8 crore in the year-ago period.

The merchant bankers managing the IPO include Kotak Mahindra Capital, J.P. Morgan India, Citigroup Global Markets India, Axis Capital, and Motilal Oswal Investment Advisors, signalling a strong lineup of advisors.

The share allotment is expected to be finalised by 10 November 2025, and listing is scheduled for 12 November 2025 on both the NSE and BSE.

This IPO is being closely watched by investors because Groww represents the new wave of fintech companies that have disrupted India’s stockbroking and investment landscape. The company’s focus on digital-first investing, user-friendly design, and simplified financial access has helped it win millions of young users.

For investors, this issue presents both opportunity and risk. On one hand, Groww is profitable and operates in a fast-growing market. On the other, valuation and competitive intensity from players like Zerodha and Upstox remain factors to consider.

Still, with strong anchor participation, clear use of funds, and steady profitability, Groww’s IPO adds another chapter to India’s booming fintech listing story. The market will be watching closely how the stock performs after listing on 12 November, as it could set the tone for future tech IPOs in India.