The much-anticipated Groww IPO has already created a stir in the Indian financial markets, even before the public subscription window opens. The anchor book for Groww’s initial public offering has reportedly received bids worth over Rs 50,000 crore, signaling strong investor confidence and institutional interest in the fintech giant’s public debut. This overwhelming response is not just a testament to Groww’s market position but also reflects the broader appetite for high-growth digital investment platforms in India.

What Is the Groww IPO?

Groww, operated by Billionbrains Garage Ventures Limited, is India’s largest and fastest-growing digital investment platform. Founded in 2016 by ex-Flipkart executives Lalit Keshre, Harsh Jain, Ishan Bansal, and Neeraj Singh, Groww started as a mutual fund discovery app and has since evolved into a full-stack investment platform offering equities, derivatives, mutual funds, fixed-income products, bonds, ETFs, commodities, and more.

The company’s IPO is a significant milestone, marking its transition from a private to a public entity. The offering comprises:

• A fresh issue of Rs 1,060 crore
• An offer for sale (OFS) of 557 million shares by existing shareholders

The price band has been set at Rs 95–100 per share, with the company targeting a valuation of $7 billion upon listing. The public subscription window is open from November 4 to November 7, 2025, with allotment expected to be finalized by November 10, 2025.

Anchor Book Bidding: A Record-Breaking Response

The anchor book, which is reserved for institutional investors such as mutual funds, insurance companies, and foreign portfolio investors, has seen bids worth over Rs 50,000 crore. This is a staggering figure, especially considering the IPO size of Rs 6,632 crore. The anchor book received bids that were 15 times oversubscribed, indicating a high level of conviction among long-term investors.

This massive response is not just a number—it’s a strong signal of market sentiment. Institutional investors are typically more cautious and conduct thorough due diligence before participating in an IPO. Their overwhelming interest in Groww’s anchor book suggests that they see strong growth potential and robust fundamentals in the company.

Key Anchor Investors

Among the notable participants in the anchor book is Sequoia Capital Global Equities (SCGE), the US-based crossover fund. This marks Sequoia’s first direct investment in India after its exit from the country two years ago. SCGE’s participation is significant, as it brings global credibility and long-term investment perspective to Groww’s public offering.

Other major selling shareholders in the OFS include:

• Peak XV Partners Investments
• Y Combinator
• Ribbit Capital

The presence of such high-profile investors in the anchor book further validates Groww’s market position and growth story.

Groww’s Financial Performance: A Rapidly Growing Fintech

Groww’s financials are a key reason for the strong investor interest. The company has demonstrated impressive growth over the past few years:

• Revenue from operations grew at a CAGR of 127.70% from FY2022 to FY2025
• Revenue for FY2025 stood at ₹3,901.72 crore, up from ₹2,609.28 crore in FY2024 and ₹1,141.53 crore in FY2023
• Profit before tax for FY2025 was ₹2,463.78 crore, a significant turnaround from a loss of ₹618.48 crore in FY2024 (due to one-time tax expenses) and a profit of ₹503.84 crore in FY2023

This rapid growth and transition to strong profitability have given management the confidence to test the public markets, even in a tightening liquidity environment.