The IPO, which opened on November 4 and closed on November 7, saw a decent 17.6 times overall subscription, signalling strong demand across investor categories. The retail portion was subscribed 9.43 times, while qualified institutional buyers (QIBs) bid 22.02 times their quota and non-institutional investors (NIIs) subscribed 14.2 times.
Ahead of the issue opening, Groww’s IPO drew interest from both domestic and global funds, underlining confidence in India’s booming fintech sector.
How to check Groww IPO allotment status: Investors who applied for the IPO can verify their allotment status using either their PAN, application number, or demat account details through any of the following:
Registrar’s website (MUFG Intime India)
Visit https://www.mufgintime.com/ipo/
Select Groww (Billionbrains Garage Ventures ) from the dropdown.
Enter your PAN or application number and click on Submit to view allotment status.
On the BSE website (https://www.bseindia.com/investors/appli_check.aspx)
Choose Equity, select Groww and enter your application details or PAN.
You will be able to see if shares have been allotted to you.
Refunds for non-allottees will begin on November 11, and shares will be credited to successful bidders’ demat accounts the same day. Groww will debut on the BSE and NSE on November 12.
Groww GMP and listing outlook
Ahead of listing, the grey market premium (GMP) for Groww stands around Rs 5 per share, implying a 5% listing gain over the upper price band of Rs 100. While this indicates modest expectations compared to the initial hype, analysts suggest sentiment could improve depending on broader market cues.
The IPO’s strong institutional participation has also tempered fears around overvaluation. Market watchers believe the fintech’s profitability turnaround and expanding user base lend it long-term strength, even if listing gains are muted.
IPO details and financials
Groww’s Rs 6,632 crore IPO included a fresh issue worth Rs 1,060 crore and an offer for sale (OFS) of Rs 5,572 crore. The price band was Rs 95-100 per share, with a lot size of 150 shares. The Bengaluru-based fintech platform offers investments in mutual funds, stocks, ETFs, F&O, and digital gold, and has emerged as one of India’s largest online broking players, with more than 12 million active clients.
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In FY25, Groww’s revenue surged 49% year-on-year to Rs 3,902 crore, while net profit jumped to Rs 1,824 crore from a loss of Rs 805 crore a year earlier, signalling a sharp turnaround in operations.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
