Groww IPO: Founders Retain Full Stake in ₹6,632-Crore IPO

Groww IPO (Billionbrains Garage Ventures Pvt Ltd) is one of the most awaited IPOs by retail investors. The Groww IPO will open tomorrow and close on November 10. However, the four-co founders of Groww have decided not to sell any shares during the Offer For Sale (OFS). This signals that these co-founders are confident that the Groww IPO will be successful and the shares will list at a high premium.

This comes after there were reports that Groww’s four co-founders, Lalit Keshre, Harsh Jain, Ishan Bansal, and Neeraj Singh, will each sell 10 lakh shares in the offer-for-sale. The overall sale would have accounted for ₹40 crore combined at the upper price band of ₹100 per share. Based on historical acquisition cost, Lalit Keshre would have gained 4,950%, Harsh Jain would have gained 4,119% , Ishan Bansal would have gained 3,044% , while Neeraj Singh would have gained 3,837%.

Key Details About Groww IPO
The ₹6,632.30 crore Groww IPO is a combination of fresh issue of 10.60 crore shares aggregating to ₹1,060.00 crore, and an offer for sale of 55.72 crore shares aggregating to ₹5,572.30 crore. Groww’s founders will earn around ₹40 crore from the OFS. Groww IPO price band is set between ₹95 to ₹100 per share.

The lot size is 150 shares per application, with a minimum investment amount by a retail investor at ₹15,000 (150 shares) at the upper price band. The lot size investment for sNII is 14 lots (2,100 shares), amounting to ₹2,10,000, and for bNII, it is 67 lots (10,050 shares), amounting to ₹10,05,000.

Kotak Mahindra Capital Co.Ltd is the book-running lead manager, while MUFG Intime India Pvt.Ltd is the registrar of the issue. Groww IPO share allotment is expected on November 10, while the company will credit the shares and initiate refunds on November 12. The shares of the company are expected to be listed on NSE and BSE on November 12.

Groww’s Financial Performance at a Glance
For Q1 FY26 (quarter ended June 2025), the company reported a net profit of ₹378.4 crore, up 11.9% YoY. However, its revenue declined 9.6% to ₹904.4 crore. For the full FY25, it posted a profit of ₹1,824.4 crore compared with a loss of ₹805.5 crore in FY24. Its revenue surged 49.5% to ₹3,901.7 crore from ₹2,609.3 crore.

What Lies Ahead for Groww IPO?
Based on historical acquisition cost, the four co-founders would have earned ₹10 crore each from their share sale under the OFS. However, their decision of not selling their shares is a welcome step for retail investors who will see this as a confident move by the co-founders. This means that they believe in the long-term growth of the company after listing, which may offer them higher returns than the ₹10 crore. With strong financials, investors will be waiting for tomorrow, when the Groww IPO opens for subscription.