Nithin Kamath Praises Groww IPO, Says 20% Applications From Zerodha Users

Zerodha co-founder Nithin Kamath has congratulated Lalit Keshre, the CEO of rival brokerage firm Groww, on their IPO. Kamath also said that 20 per cent of all Groww IPO applications are coming from Zerodha customers.

Both Groww and Zerodha are among top brokerages in the country by customer size.

On X, Kamath wrote, "Congrats on the IPO Lalit Keshre & team, and best of luck. Btw, about 20 per cent of all Groww IPO applications are from Zerodha online customers. “

In his response, Keshre wrote, "Thanks for the wishes Nithin Kamath."

Thanks for the wishes @Nithin0dha https://t.co/hn9YYf4Uls

— Lalit Keshre (@lkeshre) November 6, 2025

Groww, operating under its parent company Billionbrains Garage Ventures Ltd, launched its IPO for subscription. The company has set a price band of Rs 95 to Rs 100 per share, with a total issue size of Rs 6,632.3 crore.

On the second day of bidding on Thursday the mainboard IPO was booked 1.36 times, as per the NSE data till 2:40 p.m. The Qualified Institutional Buyers (QIBs) subscribed their quota 0.14 times, while the Non-Institutional Investors (NIIs) booked their category 1.76 times. The retail portion of the IPO was booked 4.46 times.

Ahead of the launch of the IPO, the company raised Rs 2,985 crore from anchor investors on November 3. The company allocated 29.84 crore equity shares to anchor investors at Rs 100 each. Leading domestic funds like HDFC MF, Kotak MF, Nippon India, SBI MF, and Axis MF participated in the anchor round.

The IPO will remain open until November 7, giving investors a limited window to apply for shares. Investors could expect the share allotment to be finalised on November 10 and the stock is expected to go public on November 12 on both the BSE and NSE.