The initial public offering (IPO) of Billionbrains Garage Ventures Pvt Ltd, the parent company of stockbroking platform Groww, was fully subscribed (101%) on the second day of bidding, November 6.
The ₹6,632 crore IPO received bids for 37 crore shares against an offer size of 36.47 crore shares, as per NSE data at 11:15 am.
Retail investors led the rally, subscribing to their reserved portion 3.41 times (341%).
Non-Institutional Investors (NIIs) also fully subscribed to their quota at 121%.
The Qualified Institutional Buyers (QIB) segment was 10% booked.
The price band for the issue is ₹95–₹100 per share.
Also Read: Q2 Results LIVE: Delhivery, Kaynes, Ola Electric Fall as Earnings Flood In
According to Investorgain, Groww’s grey market premium (GMP) stood at 13% over the IPO price — down from 14.75% a day earlier and 16.70% before the issue opened.
As per IPO Watch, unlisted shares were trading with a 14% GMP over the IPO price.
The IPO includes a fresh issue of ₹1,060 crore and an offer-for-sale (OFS) of 55.72 crore shares worth ₹5,572.30 crore by existing investors.
The issue opened on November 4 and will close on November 7.
Allotment date: November 10
Expected listing: November 12
Investors can bid for a minimum of 150 shares, requiring an investment of around ₹15,000 at the upper price band.
Groww is backed by marquee investors including Peak XV Partners, YC Holdings, Tiger Global, and Sequoia Capital.
Click here to explore: Groww IPO
Petronet LNG’s stock saw a sharp upmove on December 4, rising more than 4 percent…
The domestic equity market staged a sharp recovery on Friday as the Sensex surged over…
India’s financial markets have entered a phase defined by conflicting forces, as the Reserve Bank…
The momentum in public sector bank (PSU bank) stocks took a noticeable pause this week…
The IPO market witnessed strong action on Friday as Meesho, Aequs, and Vidya Wires entered…
ITC Hotels witnessed one of its biggest trading sessions in recent months as a massive…
This website uses cookies.