Groww IPO Day 3 LIVE: Issue Fully Subscribed, GMP Slips to ₹10.5 Ahead of Listing on Nov 12
Groww IPO Approved by SEBI: Fintech’s $800M-$1B Initial Public Offering Soon
The IPO of Billionbrains Garage Ventures, the parent company of Groww, has received strong investor interest.
The issue was fully subscribed by the end of Day 2 (Thursday), with a 1.64 times overall subscription.
Today marks the final day of bidding for the ₹6,632 crore IPO.
IPO Details
The price band is set between ₹95 and ₹100 per share, valuing Groww at around ₹61,700 crore (about $7 billion).
The offer includes a fresh issue of ₹1,060 crore and an offer for sale (OFS) of 55.72 crore shares.
Use of Funds
Groww will use the fresh issue money for:
₹225 crore for marketing and brand building
₹205 crore for Groww Creditserv Technology (NBFC arm)
₹167.5 crore for Groww Invest Tech Pvt Ltd to support margin trading
₹152.5 crore for cloud infrastructure
The rest for acquisitions and general corporate needs
About Groww
Founded in 2016, Groww has become India’s largest stockbroker.
It serves over 12.6 million active clients and holds a 26% market share as of June 2025.
Groww IPO GMP (Grey Market Premium)
The GMP for Groww IPO has dropped to ₹10.5 per share, the lowest since trading began in the grey market.
Based on this, the expected listing price is around ₹110.5, giving a 10.5% premium over the issue price.