Groww IPO: Check day 1 subscription status, analysts' views, latest GMP & more

The initial public offering (IPO) of Billionbrains Garage Ventures, the parent company of Groww, was off to a muted bidding from the investors on the first day of the bidding process. The issue, which kicked off on Tuesday, November 04, shall close for bidding on Friday, November 07.

Groww is selling its shares in the price band of Rs 95-100 apiece. Investors can apply for a minimum of 150 shares and its multiples thereafter. It is looking to raise Rs 6,632.30 crore via 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 worth Rs 5,572.30 crore.

According to the data, the investors made bids for 13,85,31,600 equity shares, or 38 per cent, compared to the 36,47,76,528 equity shares offered for the subscription by 2.25 pm on Tuesday, November 04, 2025. The bidding for the issue shall continue for three-days, excluding Wednesday, November 05, which is a market holiday.

The allocation for retail investors was subscribed 1.51 times, while the portion reserved for non-institutional investors (NIIs) saw a subscription of 38 per cent. However, the quota set aside for qualified institutional bidders (QIBs) was yet to see any bids as of the same time.

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.

Brokerage firms are mostly positive on the issue considering its strong market share, addition of new clients, dominant position, rising penetration of equity culture in India, sound fundamentals and growth outlook. However, regulatory concerns, market downcycle and aggressive valuations are the major concerns for the issue.

Groww is valued at a post-issue P/E of 40.79 times, the valuation appears steep compared to peers. So we assign a 'Neutral' rating for investors with a long-term perspective, said Angel One. It has cited dependence on capital market performance, trading volumes, exposure to regulatory actions, and vulnerability to data security, technology failures, or system outages as key risks.

Ahead of its IPO, Groww raised Rs 2,984.5 crore from 102 anchor investors as it finalised allocation of 29.84 crore shares at Rs 100 per share. It has reserved 75 per cent of the net offer qualified institutional bidders (QIBs), while non-institutional investors will get 15 per cent shares. Retail investors have an allocation of only 10 per cent in the IPO.

Groww as India’s largest and fastest-growing investment platform by active users based on NSE active clients, with approximately 12.6 million active clients, is strategically positioned to capitalize on this momentum through its technology-led, customer focused business model. Investors may consider the IPO as a potential long-term investment opportunity, said Master Capital Services.

Groww reported a net profit of Rs 378.37 crore with a revenue of Rs 948.47 crore for the three-months ended on June 30, 2025. It clocked a net profit of Rs 1,824.37 crore with a revenue coming in at Rs 4,061.65 crore for the year ended on March 31, 2025. Last heard, Groww was commanding a grey market premium of Rs 16-18 apiece, suggesting up to 16-18 per cent upside gains.

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 has been appointed as the registrar for the issue. Shares of the company shall be listed on both NSE and BSE on Friday, November 14.