Groww IPO 2025 — Listing Price, Financials & 1‑Year Price Forecast (Best / Base / Worst)

The Groww IPO (Billionbrains Garage Ventures Ltd.) opened for subscription in November 2025 with a price band of ₹95–₹100. This article explains the IPO structure, key financials, risks, and one‑year price forecasts across best, base and worst‑case scenarios — helping retail investors make an informed view.

Table of contents

1. IPO Overview
2. Company Snapshot
3. Financial Performance
4. Valuation Snapshot
5. Key Risks to Watch
6. One-Year Price Forecast (Best / Base / Worst)
7. Analyst Takeaway
8. How to Approach the IPO (Practical Guide)
9. SEO Tags & Meta

1. IPO Overview

Company: Billionbrains Garage Ventures Ltd. (Groww)
IPO Open: 4 November 2025
IPO Close: 7 November 2025
Price Band: ₹95 – ₹100 per share
Face Value: ₹2 per share
Lot Size: 150 shares
Issue Size: ₹6,632.3 crore (Fresh Issue ₹1,060 crore + OFS ₹5,572.3 crore)
Tentative Listing Date: 12 November 2025
Exchange: NSE, BSE

2. Company Snapshot

Groww is a Bengaluru‑based digital investment platform that allows users to invest in stocks, mutual funds, IPOs, ETFs and derivatives. Founded in 2016, the platform has scaled rapidly to serve millions of retail investors and traders. As of mid‑2025 Groww reported roughly 12.6 million active NSE clients and a significant share of retail trading flows.

3. Financial Performance (Headline Numbers)

Sources: Company filings, market reports (see links at end).

4. Valuation Snapshot

At the upper price band (₹100), Groww’s IPO implies a P/E of roughly 33× (FY 2025). The valuation is at a premium to several broking/fintech peers but is supported by high margins and a profitable FY25. High valuation reduces the margin of safety for short‑term investors.

5. Key Risks to Watch

• Regulatory risk: changes to derivatives or margin rules by SEBI could reduce trading volumes and revenue.
• Concentration risk: heavy reliance on trading/derivatives for revenue could increase volatility.
• Competition: low‑cost brokers and new fintech entrants may pressure market share and margins.
• Large OFS: a sizable Offer For Sale means existing investors are partly exiting — monitor post‑listing share lock‑ups for promoters/VCs.
• Valuation risk: high P/E leaves less room for earnings disappointment.

6. One-Year Price Forecast — Best, Base, Worst

We use ₹100 as the reference listing price for simplicity. Below are the three scenarios with the underlying assumptions.

Best Case (Bullish)

• Assumptions: Strong retail sentiment, sustained 25–35% EPS growth, stable regulations.
• EPS (FY26E): ₹4.0 – ₹4.3
• P/E: 35–40×
• Estimated 1‑Year Price: ₹140 – ₹172
• Potential 1‑Year Return vs ₹100 listing: +40% to +72%

Base Case (Neutral)

• Assumptions: Moderate EPS growth, stable business, valuation multiple normalizes slightly.
• EPS (FY26E): ₹3.4 – ₹3.6
• P/E: 28–33×
• Estimated 1‑Year Price: ₹95 – ₹120
• Potential Return: 0% to +20%

Worst Case (Bearish)

• Assumptions: Regulatory tightening or sharp slowdown in derivatives volumes; intense competition.
• EPS (FY26E): ₹2.8 – ₹3.0
• P/E: 20–25×
• Estimated 1‑Year Price: ₹56 – ₹75
• Potential Return: –25% to –45%

7. Analyst Takeaway

Groww represents a rare profitable fintech IPO in India and offers exposure to the retail investing wave. However, the IPO is richly priced — investors should weigh long‑term product/market potential against short‑term valuation risk. A staggered investment or waiting for a post‑listing consolidation might suit conservative investors.

8. How to Approach the IPO (Practical Guide)

• Retail application: Apply through your broker or UPI‑enabled platform using the lot size (150 shares).
• Bid strategy: Consider bidding at the cut‑off if you want allocation; for listing gains speculative bidders often bid across band.
• Allocation & lock‑in: Check prospectus for promoter/employee lock‑in schedules and OFS sale details.
• Time horizon: For long‑term investors focus on 2–3 year thesis (market share, product expansion); for short‑term traders watch listing day sentiment.

References & Further Reading

• Company Offer Documents / RHP (Groww investor relations)
• Media coverage: Mint, Inc42, Moneycontrol, Financial Express