Groww IPO: Two ways to check allotment status, odds of getting shares, latest GMP & more

Billionbrains Garage Ventures, the parent company of Groww is scheduled to finalize the basis of allotment of its shares on Monday, November 10. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate latest by Tuesday, November 11. The financial services platform saw a decent response from the investors.

The IPO of Billionbrains Garage Ventures was open for subscription between November 04 and November 07. It had offered its shares in the price band of Rs 95-100 per share with a lot size of 150 shares. The company raised a total of Rs 6,632.30 crore from its IPO, which included a fresh share sale of Rs 1,060 crore and an offer-for-sale (OFS) of up to 55,72,30,051 equity shares.

The issue was overall subscribed a total of 17.60 times, attracting bids over Rs 64,000 crore through nearly 31.41 lakh applications. The portion for qualified-institutional bidders (QIBs) was subscribed 22.02 times, while non-institutional investors (NIIs) quota was booked 14.20 times. The allocation for retail investors were subscribed 9.43 times during the three-day bidding process.

Based on the bidding, here are the odds of allotment for IPO of Billionbrains Garage Ventures:

• Big HNI category: 3 investors out of 10 investors will get 2,100 shares (Probability: 30 per cent)
• Small HNI category: 1 investor out of 9 investors will get 2,100 shares (Probability: 11.11 per cent)
• Retail category: 2 investor out of 13 investors will get 150 shares. (Probability: 15.38 per cent)  

The grey market premium (GMP) of Groww has seen a sharp correction despite getting bids over Rs 64,000 crore with over 31 lakh applications, led by muted market sentiments and muted listings recently. Last heard, it was commanding a premium of Rs 4-5 in the unofficial market, suggesting a listing pop of 4-5 per cent for the investors. The GMP stood around Rs 11 during the bidding.

Incorporated in 2017, Bengaluru-based Groww is a fintech company that provides retail investors direct-to-customer digital investment platform that provides wealth creation opportunities to customers through multiple financial products and services. It offers a platform to invest in mutual funds, stocks, F&O, ETFs, IPOs, digital gold, and US stocks.

Kotak Mahindra Capital, JP Morgan India, Citigroup Global, Axis Capital and Motilal Oswal Financial Services are the booking running lead managers for the IPO, while MUFG Intime India is the registrar for the issue. Refund initiations and credit of shares is likely to be done by Tuesday, November 11. Shares of Groww shall be listed on both NSE and BSE on Friday, November 14.

Investors, who had bid for the issue of Billionbrains Garage Ventures, can check the allotment status on the Bombay Stock Exchange (BSE) website:

1. Visit https://www.bseindia.com/investors/appli_check.aspx
2. Under the issue type, click Equity
3. Under the issue name, select Billionbrains Garage Ventures Limited in the dropbox
4. Write the application number
5. Add the PAN card ID
6. Click on 'I am not a Robot' and hit search button
7. Investors can also check the allotment status on the online portal of MUFG Intime India (https://in.mpms.mufg.com/Initial_Offer/public-issues.html), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries post issue.

1. Go to the web portal of MUFG Intime India Limited
2. Select the IPO/FPO in dropbox whose name will be populated only if the allotment is finalized
3. You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4. In application type, select between ASBA and non-ASBA
5. Enter the details of the mode you selected in Step 2
6. For security purposes, fill the captcha accurately
7. Hit submit.