STAR INVESTORS SUNIL SINGHANIA, MADHU KELA, UTPAL SETH SUBSCRIBE TO GROWW’S RS 2,985 CRORE ANCHOR BOOK

Billionbrains Garage Ventures Ltd (Groww), the parent of the investing platform Groww, has attracted a stellar line-up of marquee investors to its anchor book ahead of its Rs 6,632 crore initial public offering (IPO). The anchor book, amounting to Rs 2,984.53 crore, drew participation from leading domestic mutual funds, sovereign wealth funds, global tech investors, and India’s top high-net-worth investors.

Entities backed by prominent Indian investors and fund managers such as Sunil Singhania (Abakkus), Madhusudan Kela (Singularity AMC), Utpal Seth (Trust AMC), Vikas Khemani (Carnelian), and Sanjay Dangi (Authum Invest) participated in the anchor round, underscoring strong homegrown conviction in the platform’s long-term potential.

The company allotted 29.84 crore shares at Rs 100 per share to 102 anchor investors, marking one of the most widely subscribed anchor tranches among recent tech IPOs. Domestic institutions led the mix with 57% participation, while 43% came from foreign investors, reflecting balanced demand from both domestic and global pools of capital.

Among institutional investors, four of India’s top five mutual funds — HDFC AMC, SBI MF, Kotak MF, and Nippon Life India AMC — together accounted for nearly a quarter of the total anchor portion. Overall, 17 domestic mutual funds through 54 schemes were allotted shares, representing 46.6% of the total anchor allocation.

Global sovereign funds also made their presence felt, with GIC (Government of Singapore), Norges Bank (Government Pension Fund Global), and Abu Dhabi Investment Authority (ADIA) participating in the anchor book, signalling strong confidence from long-term global investors.

In a major endorsement from technology-focused global funds, Dragoneer Investment Group and Sequoia Capital Global Equities (SCGE) also came in as anchor investors. The participation marks SCGE’s first-ever investment in an Indian IPO and its first direct India investment in two years, highlighting the growing appeal of India’s new-age investing platforms to global tech specialists.

Other long-only global funds such as White Oak, Goldman Sachs Asset Management, Amundi, Mirae Asset Global Investments, Wellington Management, and Matthews Asia also featured among the anchor investors, further adding depth to the book.