Billionbrains Garage Ventures Limited IPO

Revenue Sources of Groww

Groww's main revenue streams are derived from fees and commissions and interest income.

1. Fees and Commission Income

This includes transaction-based revenue primarily earned from Broking Services and Consumer Credit products.

2. Interest Income

This includes income generated from lending and treasury operations.

3. Other Revenue Streams

• Asset Management Company (Groww AMC): Revenue is generated primarily from management fees based on a percentage of the assets under management (AUM). This business commenced in May 2023.

• Other Incidental Revenue: Income from other incidental products.

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Objects of the Issue

The Offer comprises a Fresh Issue aggregating up to ₹10,600.00 million and an Offer for Sale (OFS) of up to 557,230,051 Equity Shares.

The Company will not receive any proceeds from the Offer for Sale; the proceeds from the OFS, after deducting Offer expenses and taxes, will go to the Selling Shareholders.

The Net Proceeds (Gross Proceeds of the Fresh Issue minus the Company’s share of Offer expenses) are proposed to be utilized for the following five Objects of the Offer:

1. Expenditure towards cloud infrastructure: Estimated amount of ₹1,525.00 million. This funding supports the company’s platform, which is hosted on external cloud servers, enabling scaling capabilities, disaster recovery, and business continuity.

2. Brand building and performance marketing activities: Estimated amount of ₹2,250.00 million. These activities aim to maximize outreach, acquire new users, and increase brand awareness and affinity.

3. Investment in Groww Creditserv Technology Private Limited (GCS): Estimated amount of ₹2,050.00 million for augmenting the NBFC's capital base. This investment will expand lending capacity for existing products (personal loans) and support the launch and scaling of new credit products like Loan Against Securities (LAS).

4. Investment in Groww Invest Tech Private Limited (GIT): Estimated amount of ₹1,675.00 million for funding the Margin Trading Facility (MTF) business. This aims to expand MTF access, particularly to Affluent Users and traders, and grow revenue by increasing interest earned on MTF loans.

5. Funding inorganic growth through unidentified acquisitions and general corporate purposes: The remaining Net Proceeds are allocated here.

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Major Recent Developments

1. Corporate Milestones and Restructuring

• Acquisition of Finwizard Technology Private Limited (FTPL): The Company acquired 100% shareholding of FTPL (the "Target") from its shareholders for an aggregate consideration of ₹9,610.50 million, in cash, with the acquisition completed on October 3, 2025. The business acquired includes distribution of various financial products such as mutual fund units, insurance products, and units of alternate investment fund schemes, as well as stock broking, portfolio management activities, and electronic filing of tax returns. This acquisition aims to expand Groww into the wealth management segment and provide users with an enhanced suite of products.

• Demerger Scheme: The online credit distribution business division of the subsidiary Neobillion Fintech Private Limited was transferred and vested into the Company on a ‘going concern basis’, effective from the appointed date of April 1, 2024, following approval from the Regional Director on March 21, 2025..

2. Product and Service Launches

The Company has recently focused on expanding its offerings, particularly for Affluent Users and traders: