Groww IPO date: From price band, lot size to objectives, key things to know

Groww IPO: The initial public offering of Billionbrains Garage Ventures, the parent company of stockbroker Groww, will hit the primary market on November 4. The issue, which has fixed the price band at ₹95 to ₹100 per share, will conclude on November 7.

The initial share sale seeks to raise ₹6,632.3 crore by offering new shares valued at ₹1,060 crore as well as an offer for sale (OFS) of ₹5,572.3 crore by existing investors.

Groww IPO: Objects of the offer

Under the OFS, Peak XV Partners Investments VI-1, YC Holdings II LLC, Ribbit Capital V LP, GW-E Ribbit Opportunity V LLC, Internet Fund VI Pte Ltd, Kauffman Fellows Fund LP, Alkeon Innovation Master Fund II LP, Propel Venture Partners Global US LP, Alkeon Innovation Master Fund II Private Series LP and Sequoia Capital Global Growth Fund III – U.S./India Annex Fund, L.P will offload their stake.

The fresh issue proceeds will be used for expenditure towards cloud infrastructure, brand building and performance marketing activities, investment in two material subsidiaries and funding inorganic growth through unidentified acquisitions and corporate general purposes.

Groww IPO: Lot size

Retail investors can apply for at least one lot, consisting of 150 shares, and in multiples thereafter. The company has reserved 75% of the net offer for qualified institutional buyers, 10% for retail investors and 15% for non-institutional investors.

Groww IPO allotment and listing dates

Billionbrains Garage Ventures is a direct-to-customer digital investment platform engaged in providing multiple financial products and services. It allows customers to invest and trade in stocks, derivatives, bonds, mutual funds, and other products.

Groww IPO GMP