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.
₹6,632 Crore IPO Sees Strong Retail Demand
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.
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Retail investors led the rally, subscribing to their reserved portion 3.41 times (341%).
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Non-Institutional Investors (NIIs) also fully subscribed to their quota at 121%.
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The Qualified Institutional Buyers (QIB) segment was 10% booked.
The price band for the issue is ₹95–₹100 per share.
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Grey Market Premium (GMP) Eases Slightly
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.
Issue Structure and Key Dates
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.
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Allotment date: November 10
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Expected listing: November 12
Investor Participation and Share Details
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
