Groww IPO sees more than 17 times subscription: Will the listing live up to the hype?

Digital investment platform Groww (Billionbrains Garage Ventures) closed its initial public offering (IPO) subscription window on November 7. 

 

The Rs 6,632 crore IPO issue started the public bidding officialy on November 4 and investors were encouraged to apply for a minimum investment of Rs 14,25 for a lot of 150 shares. The price range has been set around Rs 95-100. 

 

As per the information available on the official website of NSE, Groww IPO was subscribed a total of 17.6 times. Qualified Institutional buyers were the majority, with 22.02 times the subscription. Meanwhile, Non Institutional Investors subscribed 14.2 times and Retail Individual Investors subscribed 9.43 times. 

 

Investors who have been allotted the shares will be intimated on the allotment status on November 10 and the listing of shares is expected to take place on November 12. If an individual has not been allotted shares, their invested amount will be unblocked and refunded within a week. 

 

Latest GMP details:

As per multiple media reports, the grey market premium (GMP) of the Groww IPO declined drastically on the last day of public bidding. The GMP of the IPO slipped to Rs 5-6.5 per share, hinting at a listing gain of around 5-6.5% for the investors. However, GMP is predictive and not the official figures. 

 

About Groww:

Groww is a direct-to-customer digital investment platform that provides multiple financial products and services. As pr the firm, the revenue from operations grew at a CAGR of 84.88 per cent from Fiscal 2023 to Fiscal 2025. 

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