Zerodha co-founder and CEO Nithin Kamath took a light-hearted jibe at rival brokerage Groww as the latter’s much-awaited initial public offering (IPO) opened for subscription on November 4, 2025. In a post on X (formerly Twitter), Kamath congratulated Groww co-founder Lalit Keshre and his team on the milestone — but added a cheeky remark that quickly caught attention across market circles.
“Congrats on the IPO @lkeshré & team, and best of luck. Btw, about 20% of all @_groww IPO applications are from @zerodhaonline customers,” Kamath wrote, ending his post with a playful emoji. The comment, while congratulatory, carried a friendly competitive undertone as Zerodha and Groww remain two of India’s leading online brokerage rivals vying for dominance in the retail investing space.
Congrats on the IPO @lkeshre & team, and best of luck.
Btw, about 20% of all @_groww IPO applications are from @zerodhaonline customers. 😛
— Nithin Kamath (@Nithin0dha) November 4, 2025
Groww’s IPO opened on November 4 and will close on November 7, 2025. The issue is priced between ₹95 and ₹100 per share, with a face value of ₹2. The book-built issue includes a fresh issue of 10.6 crore shares aggregating up to ₹1,060 crore and an offer for sale (OFS) of 55.72 crore shares worth around ₹5,572 crore, taking the total issue size to ₹6,632.3 crore.
According to the tentative timeline, allotment is expected on November 10, refunds and demat credit on November 11, and the listing on the BSE and NSE on November 12, 2025. The cut-off for UPI mandate confirmation is 5 PM on November 7.
The Groww IPO has drawn significant interest from investors, symbolizing the fintech sector’s growing prominence in India’s capital markets. Kamath’s remark added a humorous twist to the occasion, subtly highlighting how intertwined competition and collaboration have become in India’s booming retail investing landscape.
Disclaimer: This article is for informational purposes only and does not constitute investment advice or a recommendation to subscribe to any IPO.
