The IPO of digital investment platform Groww was well attended, with a total of 17.6 times the subscription. However, its gray market premium (GMP) fell to Rs 5 per share, about 5% above the issue price, indicating a likely listing price of Rs 105 per share.
The IPO was open for subscription from November 4 to 7 with a price band of Rs 95-100 per share and a minimum investment requirement of Rs 14,250. The allotment is likely to be completed by November 10, while the company’s shares are expected to be listed on BSE and NSE on November 12.
According to RHPGroww’s IPO will involve a fresh issue of Rs 1,060 crore and an offer for sale (OFS) of Rs 5,572.3 crore at a top price of Rs 100 per share. The participation of the first major investors in OFS values the company at approximately Rs 61,736 crore (approximately $7 billion).
According to stock exchange data, Groww’s IPO was oversubscribed 17.6 times, with the retail arm oversubscribed 9.43 times, QIBs (excluding anchor) 22.02 times and non-institutional investors (NIIs) 14.2 times.
During the initial public offering (IPO) process, the stock brokerage platform Groww raised 2984.5 crore rupees from mainstream investors, attracting participation from names like HDFC Mutual Fund, Kotak Mutual Fund, SBI Mutual Fund, Nippon India, Abu Dhabi Investment Authority and Goldman Sachs.
According to a recent report by Entrackrexisting investors in Groww are poised to benefit significantly from the partial sale offer. Kauffman Fellows Fund is set to earn an impressive 196x earnings, while Nirman Ventures and Y Combinator are expected to post 126.6x and 29x earnings, respectively. Major investors, including Peak XV Partners, Tiger Global and Ribbit Capita, could also profit significantly from the IPO.
The Bangalore-based company’s operating revenue grew nearly 50% year-on-year to Rs 3,902 crore in FY25, while its profit soared to Rs 1,824 crore in the same period. However, in Q1FY26, Groww’s revenue fell nearly 10% YoY to Rs 904.4 crore, while the company’s profit stood at Rs 378.36 crore.
