Billionbrains Garage Ventures Limited, operating under the Groww brand, has filed its quarterly monitoring agency report for IPO fund utilization during the quarter ended December 31, 2025. The report, prepared by CRISIL Ratings Limited as the appointed monitoring agency, provides detailed insights into how the company deployed its IPO proceeds across various strategic initiatives.

IPO Proceeds and Overall Utilization

The company's IPO, conducted from November 04 to November 07, 2025, raised gross proceeds of ₹10,600.00 million. After deducting issue expenses of ₹440.16 million, the net proceeds stood at ₹10,159.84 million. During the quarter ended December 31, 2025, Groww utilized ₹2,513.09 million from the total IPO proceeds.

Strategic Deployment Across Key Areas

The company's fund utilization during the quarter was spread across four primary objectives as outlined in the offer document. The largest deployment was towards funding the margin trading facility business through subsidiary Groww Invest Tech Private Limited (GIT), which received ₹850.00 million during the quarter.

Cloud Infrastructure and Technology Enhancement

Groww allocated ₹401.48 million towards cloud infrastructure expenses during the quarter. This represents utilization from the total allocated amount of ₹1,525.00 million for this objective, leaving ₹1,123.52 million unutilized. The proceeds were specifically used for availing cloud infrastructure related services to support the company's technology platform.

Brand Building and Marketing Activities

The company invested ₹672.29 million in brand building and performance marketing activities during the quarter. This utilization comes from the total allocated amount of ₹2,250.00 million for marketing initiatives, with ₹1,577.71 million remaining unutilized for future marketing campaigns.

Subsidiary Investments and Capital Enhancement

NBFC Capital Augmentation

Groww invested ₹423.77 million in its subsidiary Groww Creditserv Technology Private Limited (GCS), an RBI-licensed NBFC, for augmenting its capital base. The proceeds were utilized towards onward lending at the subsidiary level. Out of the total allocated ₹2,050.00 million for this purpose, ₹1,626.23 million remains unutilized.

Margin Trading Facility Business

The company deployed ₹850.00 million towards funding the margin trading facility business through subsidiary GIT. This represents the largest single utilization during the quarter from the allocated ₹1,675.00 million for this objective, leaving ₹825.00 million unutilized.

Unutilized Funds Management

The company has deployed its unutilized proceeds of ₹8,086.91 million across various fixed deposits and bank accounts. The major portion is invested in fixed deposits with AU Small Finance Bank and State Bank of India, earning returns ranging from 5.30% to 6.70%. Total earnings from these investments as of December 31, 2025, stood at ₹49.42 million.

Regulatory Compliance and Monitoring

CRISIL Ratings Limited, serving as the monitoring agency, confirmed that all utilizations were in line with the disclosures made in the offer document. The report indicates no deviations from the stated objects and confirms that no shareholder approval was required for any material deviations. This marks the first monitoring agency report since the company's IPO completion.

The monitoring agency noted that the company transferred ₹1,085.42 million from its monitoring account to its current account for operational ease in utilizing funds for cloud infrastructure and marketing activities. Out of this transferred amount, ₹1,073.78 million were utilized, with ₹11.64 million remaining as balance in the current account.

Groww has announced the availability of its Q3FY26 earnings conference call recording for analysts and investors. Billionbrains Garage Ventures Limited, which operates under the Groww brand, conducted the earnings call on January 14, 2026, and has now made the audio recording accessible to stakeholders.

Regulatory Compliance and Disclosure

The company has fulfilled its disclosure requirements under Part A of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary and Compliance Officer Roshan Dave signed the regulatory filing, ensuring proper compliance with stock exchange requirements.

Access to Earnings Call Recording

The audio recording of the Q3FY26 earnings conference call is now available on the company's website. Investors and analysts can access the complete discussion through the provided link, allowing them to review the financial performance and management commentary at their convenience.

Corporate Information

Billionbrains Garage Ventures Limited, formerly known as Billionbrains Garage Ventures Private Limited, operates from its registered office in Bangalore, Karnataka. The company maintains its corporate website at www.groww.in and provides investor relations support through dedicated communication channels.

The availability of the earnings call recording demonstrates the company's commitment to maintaining transparency with its investor community and ensuring compliance with regulatory disclosure requirements.