Groww IPO oversubscribed 17.6x; QIB quota sees 22x bids

Digital investment platform Groww’s IPO saw strong participation, with the issue subscribed 17.6 times overall. However, its grey market premium (GMP) has dropped 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 between November 4 and 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 finalized by November 10, while the company’s shares are expected to list on the BSE and NSE on November 12.

According to the RHP, Groww’s IPO will include a fresh issue of shares worth Rs 1,060 crore and an offer for sale (OFS) of Rs 5,572.3 crore at the upper price band of Rs 100 per share. The participation of early major investors in the OFS values the company at around Rs 61,736 crore (approximately $7 billion).

According to exchange data, Groww’s IPO was oversubscribed 17.6 times, with the retail portion subscribed 9.43x, QIBs (excluding anchors) 22.02x, and Non-Institutional Investors (NIIs) 14.2x.

During its initial public offering (IPO) process, the stockbroking platform Groww raised Rs 2,984.5 crore from anchor investors, attracting participation from marquee names such as HDFC Mutual Fund, Kotak Mutual Fund, SBI Mutual Fund, Nippon India, Abu Dhabi Investment Authority, and Goldman Sachs.

According to a recent report by Entrackr, existing investors in Groww are poised to reap significant gains from the partial offer for sale. Kauffman Fellows Fund is set to earn an impressive 196X return, while Nirman Ventures and Y Combinator are expected to record 126.6X and 29X returns, respectively. Major investors, including Peak XV Partners, Tiger Global, and Ribbit Capita,l are also likely to secure substantial profits from the IPO.

The Bengaluru-based firm’s operating revenue surged nearly 50% year-on-year to Rs 3,902 crore in FY25, while its profit soared to Rs 1,824 crore during the same period. However, in Q1 FY26, Groww’s revenue declined nearly 10% YoY to Rs 904.4 crore, with the company posting a profit of Rs 378.36 crore.