Groww’s IPO Attracts ₹50,000 Crore in Anchor Bids Ahead of Public Opening
Groww has attracted bids worth ₹50,000 crore from anchor investors ahead of its initial public offering (IPO) opening for public subscription on Tuesday, according to reports.
At the upper end of the price band of ₹95–₹100, the anchor book is expected to be around ₹2,950–₹3,000 crore.
Close to 40 investors, including domestic banks, large mutual funds, and foreign portfolio investors, participated in the anchor round, reports said.
The anchor participants include SBI Mutual Fund, major US investors Sequoia Capital, Dragoncer Investment Group, and Coatue Management, along with three large sovereign funds — Norway’s Norges Bank Investment Management, Abu Dhabi Investment Authority (ADIA), and GIC of Singapore.
Among the Largest IPOs of 2025
The IPO, which closes on Friday, will rank among the largest offerings of 2025, following floats by Tata Capital, LG Electronics India, and HDB Financial.
The allotment of shares will be finalised by November 10, while trading on the BSE and NSE will begin November 12.
The ₹6,632-crore IPO comprises a fresh issue of 106 million equity shares aggregating to ₹1,060 crore, and an offer for sale of 557.2 million shares aggregating to ₹5,572.3 crore.
Analyst View and Growth Drivers
In a recent report, Nuvama said that apart from competitive pricing, technology and user interface are key factors driving Groww’s success.
“Besides broking, Groww has expanded into lending (MTF, LAS, personal loans), asset and wealth management. The insurance distribution business is yet to scale up,” the report noted.
Nuvama expects Groww to be less affected by any decline in F&O trading.
“Groww’s activation rates over FY24–Q1 FY26 are above 33%, bringing down customer acquisition cost (CAC) per active client to just ₹1,441 in FY25, yielding a strong EBITDA margin of 59.7%,” it said.
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