Groww IPO: Billionbrains Garage Ventures offering fully subscribed on Day 2; check details

Groww IPO: Billionbrains Garage Ventures, the parent organisation of Groww stock broking firm, saw its initial public offering (IPO) being fully subscribed on Thursday, the second day of its share sale.According to National Stock Exchange data, the IPO attracted bids for 39,16,33,950 shares against 36,47,76,528 shares available, achieving a subscription rate of 1.07 times.The portion allocated for retail individual investors showed strong interest with 3.62 times subscription, whilst non-institutional investors' segment reached 1.32 times subscription. The Qualified Institutional Buyers' category achieved 10 per cent subscription, according to a PTI report.Earlier on Monday, Billionbrains Garage Ventures successfully secured over Rs 2,984 crore from anchor investors.The company's Rs 6,632 crore initial public offering is scheduled to close on Friday.The organisation established a share price range of Rs 95-100 for its initial public offering, aiming to achieve a valuation exceeding Rs 61,700 crore (approximately $ 7 billion).The offering comprises a fresh equity share issue valued at Rs 1,060 crore and includes an Offer-for-Sale (OFS) portion consisting of 55.72 crore equity shares.

Supported by prominent investors including Peak XV, Tiger Capital, and Microsoft CEO Satya Nadella, the organisation intends to allocate the IPO proceeds towards technological advancement and operational growth.From the fresh issue, Rs 225 crore will support brand development and marketing initiatives, whilst Rs 205 crore will be directed to Groww Creditserv Technology Pvt Ltd (GCS), their NBFC division, to enhance its capital foundation.Furthermore, Rs 167.5 crore will be allocated to Groww Invest Tech Pvt Ltd (GIT) to support its margin trading operations, with Rs 152.5 crore designated for strengthening cloud infrastructure capabilities.The remaining funds shall be allocated towards acquisitions to drive inorganic expansion, alongside meeting general business requirements.Based in Bengaluru, Groww submitted its IPO documentation to the market regulator Sebi in May through a private pre-filing process, securing approval in August.The company selected the private pre-filing pathway, enabling it to maintain confidentiality of IPO specifics within the DRHP until subsequent phases. This approach is becoming increasingly popular among Indian companies seeking adaptability in their public offering strategies.Established in 2016, Groww has risen to become India's foremost stockbroker, serving more than 12.6 million active customers and commanding over 26 per cent market share as of June 2025.Groww is scheduled to commence its stock exchange trading on November 12.