New Delhi [India], October 31 (ANI): Billionbrains Garage Ventures Limited, the parent company of investment platform Groww, will open its initial public offering (IPO) on Tuesday, November 4, 2025, according to a press release issued by the company.

The company has set a price band of Rs 95 to Rs 100 per equity share for the offer. Bids can be made for a minimum of 150 equity shares and in multiples of 150 thereafter. The IPO consists of a fresh issue of shares worth Rs 10,600 million and an offer for sale of up to 557,230,051 equity shares.

Also Read | Chhindwara: 5-Month-Old Baby Dies After Consuming Ayurvedic Cough Syrup in Madhya Pradesh; Shop Sealed, Probe Ordered.

The anchor investor bidding is scheduled for Monday, November 3, 2025, and the public issue will close on Friday, November 7, 2025. The shares will be listed on both the BSE Limited (BSE) and the National Stock Exchange of India Limited (NSE), with the NSE designated as the primary exchange.

Kotak Mahindra Capital Company Limited, J.P. Morgan India Private Limited, Citigroup Global Markets India Private Limited, Axis Capital Limited, and Motilal Oswal Investment Advisors Limited are acting as the book-running lead managers for the issue.

Also Read | 'Be Ready to Face Serious Consequences': Rajasthan High Court Gets Bomb Threat Email Containing Serious Allegations and Political Overtones.

As per the company's statement, the IPO will be conducted through the Book Building Process in line with the Securities and Exchange Board of India (SEBI) regulations. Under this, not less than 75 per cent of the shares will be allotted to Qualified Institutional Buyers (QIBs). Within this segment, up to 60 per cent may be allocated to anchor investors on a discretionary basis, with at least one-third reserved for domestic mutual funds.

If the anchor investor portion is not fully subscribed, the remaining shares will be added to the general QIB portion. Additionally, 5 per cent of this net QIB portion will be set aside exclusively for mutual funds, with the rest distributed among all QIB bidders.

The offer also provides that not more than 15 per cent of the shares will be available for Non-Institutional Bidders, divided between those applying for shares worth between Rs 200,000 and Rs 1,000,000 and those applying for more than Rs 1,000,000. The remaining 10 per cent of the issue will be open to retail individual investors.

According to the release, if the minimum subscription by institutional investors is not met, all application money will be refunded. The process, as outlined, aligns with SEBI's Issue of Capital and Disclosure Requirements (ICDR) and Securities Contracts (Regulation) Rules (SCRR). (ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)