Billionbrains Garage Ventures Limited, the operator of “Groww”, has raised ₹6,632 crore (~US$ 748 million) from an initial public offering comprising a fresh issue and an offer for sale by certain shareholders, including affiliates of Peak XV Partners, Y Combinator, Ribbit Capital, Tiger Global and others.
Shardul Amarchand Mangaldas & Co advised Groww on this IPO.
The transaction was led by Prashant Gupta (Partner & National Practice Head – Capital Markets) and Ruth Chenchiah (Partner), with support from Harini Jambunathan (Senior Associate), Sridutt Mishra (Senior Associate), Associates Mathangi K. and Thejaswi Melarkode.
The Securities Regulatory team was led by Manjari Tyagi (Partner), with support from Deepika Goyal (Principal Associate), Aditi Gupta (Principal Associate), Kashvi Vachhani (Associate).
Shilpa Mankar Ahluwalia (Partner & Co-Head – Banking and Finance), Shweta Singh (Senior Associate), Associates Ansh Jain and Dhwanit Rathor, advised on Financial Regulatory and Fintech matters.
Raghubir Menon (Regional Practice Head – M&A and Private Equity) and Gaurang Mandavkar (Associate), advised on Corporate aspects.
Cyril Amarchand Mangaldas advised the book running lead managers on this IPO.
The transaction was led by Manan Lahoty (Partner (Head - Capital Markets)), and included Gayathri Ramachandran (Partner), Akash Joshi (Senior Associate), and Associates Vishesh Jain, Anna Kallivayalil, Dhruv S., Zubin Ronnie and Khadri Mohammed.
Latham & Watkins served as the International legal counsel to the BRLMs.
The transaction team consisted of Rajiv Gupta (Partner, India Practice Head) and Esha Goel (Senior Associate).
Groww is India’s largest investment platform by active users on NSE as of June 30, 2025.
The issue witnessed robust demand, with overall subscription of over 17 times, including over 22 times by QIBs.
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