Digital investment platform Groww has opened the subscription window for investors to apply for its initial public offering (IPO).
Groww (Billionbrains Garage Ventures) IPO was open to the public on November 4 and will continue to accept applications till November 7.
Investment details:
To apply for the IPO, investors need to apply for 1 lot with 150 shares for Rs 14,250. The price range for the Rs 6,632 crore issue has been set around Rs 95-100.
As per the information available on NSE, the IPO has achieved 57 per cent subscription status. Qualified Institutional Buyers applied 0.1 times the shares allotted for them. Meanwhile, Non Institutional Investors applied 0.59 times and Retail Individual Investors applied 1.91 times.
Important dates:
As mentioned above, the IPO subscription window will close on November 7. Investors who have been allotted the shares will be intimated on the allotment status on November 10 and the listing of shares is expected to take place on November 12.
Latest GMP status:
As per various media reports, the latest grey market premium (GMP) of Groww IPO is around Rs 17 per share, which corresponds to a 17 per cent listing gain for investors.
About Groww:
Groww is a direct-to-customer digital investment platform that provides multiple financial products and services. As pr the firm, the revenue from operations grew at a CAGR of 84.88 per cent from Fiscal 2023 to Fiscal 2025.