Business Profile of Billionbrains Garage Venture Limited
Groww was incorporated in 2017 and a Bengaluru-based fintech company that provides retail investors direct-to-customer digital investment platform. The company offers a platform for investing in direct mutual funds, stocks, ETFs, and IPOs, making it India’s largest stockbroker by active clients. The company provides brokerage service which includes derivatives & stocks and its product includes Mutual Funds, MTF, Credit and Groww AMC. The business model of company operates on growing its customer base and expanding relationship with customers. Through its mobile application customers invest in mutual funds, stocks, F&O, ETFs, IPOs, digital gold, and U.S. stocks. It also offers value-added services such as Margin Trading Facility (MTF), algorithmic trading, New Fund Offers (NFOs), and credit solutions.
Objective of Billionbrains Garage Venture Limited IPO
As per the draft red hearing prospects, the IPO issue consists fresh issue and offer for sale. The fresh issue consists of XXXX shares at the face value of ₨ 2.00 each aggregating up to ₹ 10,600.00 million and OFS consists 574,190,754 shares at face value of ₨ 2.00 each aggregating up to ₨ XXXX million. There are fresh shares issues and OFS by company and main objective of company is capex in cloud infrastructure, marketing activities, investment in subsidiaries and general corporate expenses.
Details of Billionbrains Garage Venture Limited (Groww) IPO
| IPO Open Date | N.A. |
| IPO Close Date | N.A. |
| Basis of Allotment | N.A. |
| Listing Date | N.A. |
| Face Value | ₹2.00 per share |
| Price | N.A. |
| Lot Size | N.A. |
| Total Issue Size | Up to XXXX shares |
| Aggregating up to ₨ XXXX million. | |
| Fresh Issue | Up to XXXX Equity Shares |
| Aggregating up to ₨ ₹10,600.00 million. | |
| Offer For Sale | Up to 574,190,754 Equity Shares |
| Aggregating up to ₨ XXXX million. | |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE & NSE |
| QIB Shares Offered | Not more than 75% of the Net Issue |
| Retail Shares Offered | Not more than 10% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Billionbrains Garage Venture Limited IPO: Issue Price & Size
The issue price of BILLIONBRAINS GARAGE VENTURE LIMITED hasn’t been released yet. Upon releasing the dates, the investors can bid between those price ranges. The company has fresh issue and OFS aggregating up to ₹ XXXX million at the price of ₨XXXX.
Launch Date of Billionbrains Garage Venture Limited IPO
The IPO opening date of BILLIONBRAINS GARAGE VENTURE LIMITED hasn’t been officially announced yet, upon the declaration of dates investor can bid for IPO.
Financial Statements of Billionbrains Garage Venture Limited
| Particulars | Ended 30 June 2025 |
Ended 30 June 2024 | 31 March 2025 | 31 March 2024 | 31 March 2023 |
| Revenue from operations | 9,043.98 | 10,007.94 | 39,017.23 | 26,092.81 | 11,415.26 |
| Other income | 440.73 | 467.84 | 1,599.22 | 1,887.09 | 1,194.34 |
| Total income | 9,484.71 | 10,475.78 | 40,616.45 | 27,959.90 | 12,609.60 |
| Expenses | |||||
| Employee benefits expense | 1,366.25 | 2,484.77 | 3,151.75 | 11,880.26 | 2,867.55 |
| Finance costs | 164.19 | 18.18 | 425.49 | 41.98 | 20.72 |
| Depreciation and amortisation expense | 71.39 | 51.95 | 246.00 | 201.15 | 122.96 |
| Other expenses | 2,844.84 | 3,335.65 | 12,141.62 | 8,557.71 | 4,559.95 |
| Total expenses | 4,446.67 | 5,890.55 | 15,964.86 | 20,681.10 | 7,571.18 |
| Profit / ( loss ) before exceptional items | 5,038.04 | 4,585.23 | 24,651.59 | 7,278.80 | 5,038.42 |
| Share of net loss of associate accounted for using equity | ( 6.25 ) | – | ( 13.77 ) | ( 68.78 ) | – |
| method ( net of tax ) | |||||
| Exceptional item ( taxes ) | – | – | – | (13,396.84) | – |
| Profit / ( loss ) before income tax | 5,031.79 | 4,585.23 | 24,637.82 | ( 6,184.82 ) | 5,038.42 |
| Tax expense | |||||
| Current tax | |||||
| for current period / year | 1,330.55 | 1,626.24 | 6,160.39 | 2,275.80 | 445.88 |
| relating to earlier years | – | – | 2.71 | 32.78 | – |
| Deferred tax ( credity expense | ( 82.43 ) | ( 421.14 ) | 230.99 | ( 438.90 ) | 15.37 |
| Total tax expense | 1,248.12 | 1,205.10 | 6,394.09 | 1,869.68 | 461.25 |
| Profit / ( loss ) for the period / year | 3,783.67 | 3,380.13 | 18,243.73 | ( 8,054.50 ) | 4,577.17 |
Key financial ratios of Billionbrains Garage Venture Limited
| Particulars | Units | June 30 , 2025 |
June 30 , 2024 |
March 31, 2025 |
March 31 , 2024 |
March 31, 2023 |
| Revenue from operations | millions | 9,043.98 | 10,007.94 | 39,017.23 | 26,092.81 | 11,415.26 |
| Contribution Margin | millions | 7,705.52 | 8,784.29 | 33,312.77 | 22,818.39 | 9,605.77 |
| Contribution Margin | % | 85.20 % | 87.77 % | 85.38 % | 87.45 % | 84.15 % |
| EBITDA | millions | 4,826.64 | 4,187.52 | 23,710.09 | -7,808.78 | 3,987.76 |
| Adjusted EBITDA |
millions | 5,071.95 | 5,836.68 | 23,063.69 | 14,709.19 | 4,163.01 |
| Adjusted EBITDA Margin | % | 56.08 % | 58.32 % | 59.11 % | 56.37 % | 36.47 % |
| Profit/(loss) for the period | ₹ millions | 3,783.67 | 3,380.13 | 18,243.73 | -8,054.50 | 4,577.17 |
| Profit/(loss) for the period Margin | % | 39.89% | 32.27% | 44.92% | -28.81% | 36.30% |
| Operational Metrics | Three months ended | Fiscal Year ended | ||||
| Particulars | Units | June 30 , 2025 |
June 30 , 2024 |
March 31 , 2025 |
March 31 , 2024 |
March 31 , 2023 |
| Total Transacting Users | millions | 18.07 | 13.00 | 17.31 | 11.33 | 6.52 |
| Active Users | millions | 14.38 | 10.78 | 13.94 | 9.43 | 5.36 |
| Growth in Active Users | % | 33.43 % | 89.73 % | 47.84 % | 76.07 % | 47.54 % |
| Average Active Users | millions | 12.58 | 8.23 | 11.68 | 7.39 | 4.49 |
| NSE Active Clients | millions | 12.58 | 10.92 | 12.92 | 9.54 | 5.37 |
| Growth in NSE Active Clients | % | 15.17 % | 93.17 % | 35.46 % | 77.51 % | 39.65 % |
| Total Customer Assets | millions | 2,606,569.0 | 1,637,933.53 | 2,168,115.78 | 1,213,759.66 | 478,043.12 |
| Platform AARPU | MV | – | – | 3,339.28 | 3,529.80 | 2,540.99 |
| MAUS | millions | 14.17 | 10.78 | 12.69 | 7.15 | 4.55 |
| DAUS | millions | 7.21 | 6.32 | 7.14 | 3.95 | 2.37 |
Promoters & Shareholding Billionbrains Garage Venture Limited (Groww) IPO
As of date, according to the DRHP filed with SEBI promoters and promoter group have 81.72% shareholding in company.
| Name of Shareholders | Number of Equity Shares | Percentage of Equity share |
| Promoters | 1,711,113,884 | 81.72% |
| Members of Promoter | 382,739,457 | 18.28% |
| Total ( A + B ) | 2,093,853,341 | 100% |
Should You Subscribe To Billionbrains Garage Venture Limited IPO
While investing or subscribing to any IPO, consider the investment rationales related to the company. Hence, here you can find out the strength of the company that will be its growth factors. And also check the risk factors that can affect the growth and operational efficiency of the company.
Competitive Strengths of Billionbrains Garage Venture Limited (Groww) IPO
Recognised brand name “Groww”
The company has been at the forefront of retail investing in India, and, as per Google Trends, Groww has the highest search interest in India among top 10 brokers, basis NSE active clients (as per NSE data) in Fiscal 2025. It acquired in the three months ended June 30, 2025 and 2024, Fiscals 2025, 2024 and 2023, 83.16%, 82.96%, 83.63%, 81.10% and 81.03% customers, respectively. This ensures the cost of customer acquisition is low on company platform.
High customer retention
The company relationship with its customers does not end with the completion of a transaction. The extent to which company customers use and engage with products and services is an important indicator of their level of interest in platform. It also increase customer engagement on the platform by providing relevant and easily accessible information (through news releases, earnings announcements among others, which creates a regular cadence of content and information) to cater to customers’ needs and interest and to enable them to make informed investment decisions.
In-house technology stack
The company has built most of its technology in-house and it help in deliver a better experience to customers. They are able to react to changes quickly, both customer and regulatory demand related compliance through its systems and infrastructure customized as a backbone for operations. This helps in sustain product velocity, continuous innovation, and the reliability and stability of the platform, while maintaining business continuity.
Strong growth and profitability
The platform of company is characterized by core principles of customer first which helps achieve high customer engagement and retention, and accelerated adoption of various investment products and services. Technology / Digital led bring operating leverage to business model, allowing company to scale revenue at low cost. This results in increased revenue per customer at low cost, thereby expanding contribution margin.
Risk Factors of Billionbrains Garage Venture Limited (Groww) IPO
Market volatility
The company operates in the investment and wealth management industry in India where its conduct their business and generate all of its revenues. The business performance is inherently linked to the overall health and stability of the financial markets and investor sentiment. Any downturn or disruption of the financial markets, which are affected by general economic, policy and market conditions in India and globally, may have a material adverse effect on company business and financial condition.
Tech disruptions risk
Uninterrupted access to technology platform is essential to company business. The performance, reliability, and availability of platform, including transaction-processing system’s ability to handle a large number of transactions, and network infrastructure are essential to company success. System failures and interruptions could adversely affect the availability or performance of website, mobile applications or platform, and thereby adversely impact company business, financial condition and results of operations.
Regulatory threat
The company business is under the purview of regulators and statutory authorities in India, which include, among others, SEBI, RBI and the stock exchanges. The company subject to changes in the regulatory framework applicable to them, and amendments to these regulations may impact its business and operations. Any changing laws, rules and regulations may adversely affect company business, prospects and results of operations.
Customer’s retention dependency
The growth of business depends on its ability to cost-effectively attract and retain customers on company platform. The extent to which their customers use and engage with products and services is an important indicator of their level of interest in company platform. Any failure to do so could have an adverse impact on company operations, financial condition and results of operations.
Billionbrains Garage Venture Limited IPO Grey Market Premium
Grey market premium is the premium quoted over the IPO issue price. GMP shows that investors are ready to pay above the upper band of the IPO issue price. GMP is determined in the grey market as per the demand and supply of the shares in the primary market. A grey market is that unofficial ecosystem of unlisted companies’ stocks that start trading even before the launch of the IPO to the date of its listing.
Also Read: What is Grey Market Premium in IPO: How is GMP Calculated & Reliable
However, GMP is not a reliable factor, as it keeps fluctuating as per the demand and supply of shares in the primary market. There are numerous factors that affect the stock market in India and individual stock prices of different companies that are already listed and trading in the secondary market. However, for an IPO-bounded company, you can consider the GMP as the speculative listing price of the share
According to various online sources, the Grey Market Premium or GMP of the BILLIONBRAINS GARAGE VENTURE LIMITED is trading around Rs XX in the grey market. It means shares are trading at the upper band issue price of Rs XX with a premium in the grey market and may list around the same price.
