New Delhi, Oct. 31 -- Groww's RHP frames a large, OFS-heavy IPO that converts private gains into public shares while pitching a profit story to markets. This listing will test whether profitability, regulatory clarity, and institutional demand can outweigh limited retail allocation.

Groww has filed its red herring prospectus and set a price band of Rs.95-Rs.100 per share for a Rs.6,632.3 crore book-built offering that mixes a fresh issue and a large offer-for-sale (OFS). The public subscription window runs Nov 4-7, 2025, with anchor bids a day earlier and a tentative listing scheduled for November 12.

These numbers matter because they set the scale of both the capital entering the business (the fresh issue) and the cash leaving via exit...