The initial public offering of BillionBrains Garage Ventures, the parent company of stock broking firm Groww, was fully subscribed on the second day of share sale on Thursday.
According to data available on NSE till 11:45 am, the company’s IPO received bids for 39,16,33,950 shares, while there were 36,47,76,528 shares on offer, or 1.07 times subscription.
The portion of retail individual investors (RIIs) was subscribed 3.62 times, while the portion of non-institutional investors was subscribed 1.32 times.
10% subscription was achieved in the category of qualified institutional buyers (QIBs).
BillionBrains Garage Ventures raised a little over ₹2,984 crore from anchor investors on Monday. The company’s ₹6,632 crore IPO will end on Friday.
The company has set a price band of ₹95-100 per share for its IPO, targeting a valuation of more than ₹61,700 crore (about $7 billion).
The IPO consists of a fresh issue of equity shares worth ₹1,060 crore with an offer-for-sale (OFS) component of 55.72 crore equity shares.
The company, which is backed by major investors like Peak XV, Tiger Capital and Microsoft CEO Satya Nadella, plans to use the proceeds from the IPO to invest in technology development and business expansion.
Of the fresh issue, ₹225 crore will be used for brand building and performance marketing activities, and ₹205 crore will be invested in Grow Creditserv Technology Pvt Ltd (GCS), the NBFC arm, to enhance its capital base.
Additionally, ₹167.5 crore will be invested to finance the margin trading facility business of Grow Invest Tech Pvt Ltd (GIT), while ₹152.5 crore has been earmarked to strengthen the cloud infrastructure.
The remaining amount will be used to finance inorganic growth through acquisitions and for general corporate purposes.
Headquartered in Bengaluru, Groww filed the draft papers with market regulator SEBI in May for the IPO through the confidential pre-filing route and received SEBI’s approval in August.
Groww opted for the confidential pre-filing route, which allows it to withhold public disclosure of IPO details under the DRHP until the later stages. This route is gaining popularity among Indian companies aiming for flexibility in their IPO plans.
Founded in 2016, Groww emerged as India’s largest stockbroker with over 12.6 million active clients and a market share of over 26 percent by June 2025.
Grow will make its stock market debut on November 12.
published – November 06, 2025 12:43 PM IST
