The company's Rs 6,632.30-crore IPO was met with strong demand, getting oversubscribed 17.6 times, which indicates high investor confidence. In the unlisted market, shares are trading at a 3% premium over the issue price.
The wait is almost over for retail investors eyeing the Groww IPO. Shares of Billionbrains Garage Ventures Ltd, the parent company behind the popular investment platform Groww, are set to make their stock market debut on Wednesday (November 12), on both the NSE and BSE. The Rs 6,632.30-crore issue received an overwhelming response from investors, getting subscribed nearly 18 times before closing. The allotment status was finalised earlier this week, on Monday, November 10.
A Strong Show of Investor Confidence
Investor enthusiasm around the Groww IPO was evident across all categories. As per exchange data, the issue drew bids for more than 641 crore shares against about 36 crore shares on offer, translating to a 17.6 times overall subscription.
Institutional investors led the charge, with the Qualified Institutional Buyers (QIBs) portion subscribed 22 times. The Non-Institutional Investors (NIIs) category followed with 14.2 times subscription, while retail investors placed bids 9.4 times their allotted quota.
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This overwhelming response signals strong market confidence in Groww’s business model and future growth potential.
Grey Market Premium Points to a Modest Listing Gain
In the unlisted market, Groww’s shares are already generating buzz. According to reports from Investorgain.com, the company’s unlisted shares are trading at Rs 103, showing a 3% premium over the upper price band of Rs 100.
While not a massive jump, the positive grey market premium (GMP) suggests that the stock could see modest listing gains, depending on overall market sentiment on debut day.
The Bigger Picture: What Lies Ahead for Groww
Groww’s rise from a fintech startup to one of India’s most popular investment platforms has been nothing short of remarkable. The company’s easy-to-use interface and strong digital presence have helped it connect with millions of first-time investors.
As it prepares to go public, analysts believe Groww’s brand recall, young user base, and strong growth trajectory could work in its favor but also caution that valuations and long-term profitability will be key factors to watch post-listing.
