Groww IPO Lists at ₹114 on BSE, Up 14% Over Issue Price of ₹100

Bengaluru, November 12: Billionbrains Garage Ventures (Groww) IPO made a strong debut on stock exchanges, listing at ₹114 per share on BSE, a premium of 14% against its issue size of ₹100. However, just after listing, Groww’s share price saw high investor demand. On NSE, it was listed at ₹112, and as of 10:10 AM, the Groww share price was up by 19.21%, or 19.21 points, and was trading at ₹119.21. Until now, Groww shares have traded within a range of ₹121 and ₹112. The traded volume for the Groww stock was at 16.09 crore shares.

Groww IPO Subscription Details

Groww IPO subscription status saw strong demand across investor categories. Overall, the Groww IPO was subscribed 17.60 times. The Qualified Institutional Buyers (QIBs) portion saw a 22.02 times subscription. The Non-Institutional Investors (NIIs) segment saw a 14.20 times subscription, while the Retail Individual Investors (RIIs) portion was subscribed 9.43 times.

Groww IPO Anchor Allocation Details

Ahead of the IPO opening, Groww raised ₹2,985.35 crore from anchor investors by allotting 29.85 crore shares at ₹100 each. Key anchor investors included the Government of Singapore, the Government Pension Fund Global, the Abu Dhabi Investment Authority, the Kotak Flexicap Fund, and the Nippon India Multi Cap Fund.

Key Details About Groww IPO

The ₹6,632.30 crore Groww IPO was a combination of fresh issue of 10.60 crore shares aggregating to ₹1,060.00 crore, and an offer for sale of 55.72 crore shares aggregating to ₹5,572.30 crore. The Groww IPO price band was set between ₹95 and ₹100 per share. The lot size was 150 shares per application, with a minimum investment amount by a retail investor of ₹15,000 (150 shares) at the upper price band. The lot size investment for sNII was 14 lots (2,100 shares), amounting to ₹2,10,000, and for bNII, it was 67 lots (10,050 shares), amounting to ₹10,05,000. Kotak Mahindra Capital Co.Ltd was the book-running lead manager, while MUFG Intime India Pvt.Ltd was the registrar of the issue.

Investor Takeaway for Groww

Groww shares have been listed with a high premium of 14% on BSE and 12% on NSE. This has provided listing gains to investors. The Groww share price is on an upward momentum, and fresh buying by investors may drive the share price higher. Investors will hope that the shares can gain more in the coming days, providing them with a higher return on their Groww IPO investment.

REF: https://www.nseindia.com/get-quotes/equity?symbol=GROWW

Disclaimer: At HDFC SKY, we take utmost care and due diligence in curating and presenting news and market-related content. However, inadvertent errors or omissions may occasionally occur.

If you have any concerns, questions, or wish to point out any discrepancies in our content, please feel free to write to us at content@hdfcsec.com.

Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations