Cyril Amarchand Mangaldas advised the book running lead managers on the IPO of Billionbrains Garage Ventures Limited (‘Groww’)
The Leading Law firm in India, Cyril Amarchand Mangaldas acted as the Indian legal counsel to the book running lead managers on the initial public offering of Billionbrains Garage Ventures Limited (the “Company”) of 663,230,051 equity shares, aggregating to approximately ₹66,230.01 million (the “Offer”).
The Offer comprised a fresh issue of 106,000,000 equity shares aggregating to approximately ₹10,600.00 million, and an offer for sale of 557,230,051 equity shares by certain selling shareholders aggregating to approximately ₹55,723.01 million.
The book running lead managers to the Offer were 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.
The Offer opened on 4 November 2025 and closed on 7 November 2025, receiving an overall subscription of 17.60 times, with the portion reserved for qualified institutional buyers being subscribed 22.02 times. The equity shares of the Company commenced trading on the stock exchanges on 12 November 2025.
The Company is a direct-to-customer digital investment platform that provides wealth creation opportunities to customers through multiple financial products and services.
The Cyril Amarchand Mangaldas transaction team was led by Manan Lahoty (Partner – Head, Capital Markets) and Gayathri Ramachandran (Partner), with assistance from Akash Joshi (Senior Associate), Vishesh Jain (Associate), Anna Kallivayalil (Associate), Dhruv Sharma (Associate), Zubin Ronnie (Associate), and Khadri Mohammed (Associate).
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