Groww initial public offer: Founders, early investors to gain up to 5,100%

THE promoters and the early investors of Billionbrains Garage Ventures, the parent of the country’s largest brokerage Groww, are going to make a killing from the %6,632 crore IPO that’s opening on Monday because their acquisition value is only a fraction of the post-issue valuation of the company that’s at $61,735 crore at the upper end of price band. Some of them will be making a windfall gains of up to5,100%, while the lowest return is 1,700%.

- BENN KOCHUVEEDAN @ Mumbai

The Bengaluru-based discount brokerage with an active client base of over 12.7 million has fixed its price band at 795—100 per share. The offer comprises a fresh issue of %1,060 crore worth of shares and an offer for sale of %5,574 crore, which will be done by external investors pairing their stakes. The four cofounders—Lalit Keshre, Harsh Jain, Neeraj Singh and Ishan Bansal—who