Groww IPO retail investors’ quota fully booked on Day 1; GMP shoots up

New Delhi: The initial public offering of Billionbrains Garage Ventures, the parent company of stock broking firm Groww, garnered 29 per cent subscription so far on the first day of the share sale on Tuesday.

Groww IPO Subscription on Day 1

The company's IPO received bids for 10,42,97,559 shares, as against 36,47,76,528 shares on offer, as per data available with the NSE till 12:48 hours.

Retail investors' quota got fully subscribed by 1.16 times, while the category meant for non-institutional investors received 27 per cent subscription.

Groww IPO GMP Today

The Groww IPO is commanding a grey market premium (GMP) of Rs 17. Based on the upper end of the IPO price band, this suggests an estimated listing price of around Rs 117 per share, implying a potential 17% premium over the issue price of Rs 100.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Billionbrains Garage Ventures on Monday garnered a little over Rs 2,984 crore from anchor investors.

Groww IPO Key Dates and Price Band

The company's IPO would conclude on November 7.

Groww will make its stock market debut on November 12.

The firm has fixed a price band of Rs 95-100 per share for its IPO, targeting a valuation of over Rs 61,700 crore (about USD 7 billion).

Groww IPO Structure

The IPO comprises a fresh issue of equity shares worth Rs 1,060 crore along with an Offer-for-Sale (OFS) component of 55.72 crore equity shares by promoters and investor shareholders.

As part of the OFS, the company's promoters -- Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal -- each are offering up to 1 million shares.

Besides, investors such as Peak XV Partners Investments VI-1, YC Holdings II, Ribbit Capital V, GW-E Ribbit Opportunity V, Internet Fund VI Pte Ltd, and Kauffman Fellows Fund, LP are offloading shares.

Groww's founders own 27.97 per cent of the company and have been declared promoters of the firm, with a 20 per cent lock-in for one-and-a-half years from the time of listing. In the IPO, they are offering to sell only 0.07 per cent of the company's total shares.

The company, which is backed by marquee investors such as Peak XV, Tiger Capital, and Microsoft CEO Satya Nadella, plans to use proceeds from the IPO to invest in technology development and business expansion.

Groww IPO Objectives

Of the fresh issuance, Rs 225 crore will be used for brand building and performance marketing activities, and Rs 205 crore will be invested in Groww Creditserv Technology Pvt Ltd (GCS), the NBFC arm, to augment its capital base.

Additionally, Rs 167.5 crore will be infused into Groww Invest Tech Pvt Ltd (GIT) to fund its margin trading facility business, while Rs 152.5 crore has been earmarked to strengthen cloud infrastructure.

The balance will be utilised for funding inorganic growth through acquisitions and for general corporate purposes.

About Groww

Headquartered in Bengaluru, Groww filed draft papers in May with the markets regulator, Sebi, for an IPO through a confidential pre-filing route and received Sebi's approval in August.

Groww opted for the confidential pre-filing route, which allows it to withhold public disclosure of IPO details under the DRHP until later stages. This route is gaining traction among Indian firms aiming for flexibility in their IPO plans.

Founded in 2016, Groww emerged as India's largest stockbroker, with over 12.6 million active clients and a market share of over 26 per cent as of June 2025.