There has been a lot of excitement around Groww’s IPO, which opened for subscription on November 4, 2025. But what exactly is this “GMP” that investors keep talking about? GMP stands for Grey Market Premium. It tells us how much more people are willing to pay unofficially for Groww’s shares before they officially start trading on the stock exchange. If the GMP is high, it usually means investors are confident and expect the stock to do well after listing. This guide explains the Groww IPO GMP, the company’s background, how the subscription is going, and what it all means for you as an investor.
Groww is one of India’s biggest digital investment platforms. Started in 2016, it helps millions of people invest in stocks, mutual funds, gold, and other products through an easy-to-use app and website. Over 12.6 million active users trust Groww, making it a giant in India’s fast-growing digital finance world.
The company is raising ₹6,632 crore through this IPO. The share price is set between ₹95 and ₹100, and investors can buy shares in lots of 150. The money from the IPO will be used to improve Groww’s technology, market the platform more, and grow its financial services.
Before an IPO lists on the stock exchange, there is an unofficial market where shares are traded-this is the grey market. The price difference between the IPO rate and what people pay in this market is called the Grey Market Premium. For Groww, the GMP has been around ₹14 to ₹15 above the IPO price recently, meaning investors are willing to pay roughly 14-15% extra unofficially.
It’s important to know that GMP is not regulated and can change quickly. It’s a good sign of demand but should not be the only reason you decide to invest.
| Aspect | Detail |
| IPO Open Date | November 4, 2025 |
| IPO Closing Date | November 7, 2025 |
| IPO Price Band | ₹95 – ₹100 per share |
| Lot Size | 150 shares |
| Issue Size | ₹6,632 crore (Fresh issue: ₹1,060 crore; OFS: ₹5,572 crore) |
| Allotment Date | November 10, 2025 |
| Refund Initiation | November 11, 2025 |
| Listing Date | November 12, 2025 |
| Grey Market Premium (GMP) on Nov 6, 2025 | ₹14-₹15 per share (approx. 14-15% above IPO price) |
| Estimated Listing Price | ₹114 – ₹115 per share |
| Subscription Day 1 | 0.57 times overall |
| Retail Investor Subscription | Nearly 3 times (strong retail interest) |
| Business Model | Digital investment platform, tech-driven, asset-light |
| FY25 Revenue | ₹3,901 crore (49% YoY growth) |
| FY25 Profit (PAT) | ₹1,824 crore |
| EBITDA Margin | 60.8% |
| Use of IPO Funds | Cloud infrastructure, marketing, subsidiary expansion |
On the first day, Groww’s IPO received a 0.57 times subscription overall, which means not all shares were applied for. However, retail investors (everyday people like you and me) showed strong interest with nearly 3 times subscription on later days. Institutional investors (big companies) have been more cautious, possibly waiting to see how things unfold.
Groww’s business runs mostly on technology, making investing simple and accessible. Rather than holding many assets themselves, the company acts as a platform connecting users to the market. It has a very loyal user base, with 77% of users sticking around, and each user is generating more revenue year over year. These factors make Groww attractive compared to traditional financial companies.
The premium traders are paying in the grey market suggests good initial demand. Experts believe Groww’s listing price could be higher than the top end of the IPO price band, giving investors early gains. The funds raised will help Groww expand its cloud infrastructure for better performance and support new offerings, driving long-term growth.
However, potential risks like competition from other fintech firms and changes in government regulations should also be kept in mind.
GMP helps investors get a feel for the market mood. A growing GMP often means excitement and belief that the IPO shares will be worth more on listing day. But remember, it’s just one piece of the puzzle. The company’s real strength lies in its growth, business model, and how it uses the funds raised.
Groww’s IPO reflects the rising popularity of digital investment platforms in India. The GMP indicates positive short-term excitement, but investing wisely means looking beyond hype and understanding the company’s fundamentals. Groww’s journey as a public company will be closely watched by investors and market analysts, as it could shape the future of fintech investing in India.
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It’s the unofficial extra amount buyers pay for an IPO share in the grey market before listing.
No. GMP shows demand but is not a regulated or sure indicator of listing gains.
Allotment results are expected by November 10, and listing on the stock exchange should happen around November 12, 2025.
No, always research the company’s fundamentals and market conditions before investing.
The minimum investment for retail investors is about ₹15,000 for one lot of 150 shares.
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