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Groww IPO Day 2: GMP Rises, Issue Receives 0.88x Subscription So Far; Should You Apply?
Groww IPO Day 2: GMP Rises, Issue Receives 0.88x Subscription So Far; Should You Apply?
Groww IPO GMP Today, Groww IPO News: Billionbrains Garage Ventures, the parent company of stock broking firm Groww, is witnessing its second day of bidding today, November 6, 2025. The price band of the Rs 6,632-crore IPO was fixed in the range of Rs 95-Rs 100 apiece. Till 10:40 am on the second day of bidding on Thursday, the IPO received a 0.88x subscription, garnering bids for 32,06,15,850 shares as against the 36,47,76,528 shares on offer.
Its retail category received a 2.97x subscription, while the NII (non-institutional investor) quota received 1.04x subscription. The QIB category received a 0.10x subscription.
Groww IPO: Opening, Closing, Allotment, Listing Dates
The IPO was opened on November 4 and will be closed on November 7. Its allotment will be finalised on November 10, while the stock listing is scheduled to take place on November 12 on both BSE and NSE.
Groww IPO GMP Today
According to market observers, unlisted shares of Billionbrains Garage Ventures Ltd are currently trading at Rs 114.75 apiece in the grey market, which is a 14.75% premium (or GMP) at Rs 14.75 over the upper IPO price of Rs 100, indicating mild listing gains for investors.
The GMP was nearly 14% on the first day of bidding on Tuesday.
The GMP is based on market sentiments and keeps changing. ‘Grey market premium' indicates investors' readiness to pay more than the issue price.
Groww IPO: Should You Apply?
According to Arihant Capital, India's retail investor base is projected to nearly double from the current 6.6-7.2 crore to about 12–13 crore in the coming years, positioning Groww favourably to benefit from this expansion. With a digital reach spanning 98.36% of Indian pin codes and a leadership position among active NSE users, the firm said Groww is well placed to capitalise on the country's growing investor participation.
The brokerage highlighted that Groww's strong technology platform and asset-light business model are expected to support profitability. Its revenue has grown at a compound annual growth rate (CAGR) of 85% between FY23 and FY25, while profit margins have widened to 45%.
“At the upper price band of Rs 100, the issue is valued at a P/E of 33.8x, based on an EPS of Rs 2.96. We recommend a ‘Subscribe for listing gains' rating," Arihant Capital noted.
Anand Rathi, meanwhile, said Groww's focus on trust, transparency, and financial inclusion remains central to its growth strategy. The brokerage added that the company plans to expand organically through customer referrals and operating leverage, while also diversifying its product offerings — including margin trading facility (MTF), commodity derivatives, API-based trading, wealth management, and bonds — to boost customer engagement and wallet share.
“Considering these factors, the IPO appears fully priced and is rated ‘Subscribe – Long Term'," Anand Rathi said.
Groww IPO: More Details
Billionbrains Garage Ventures on Monday garnered a little over Rs 2,984 crore from anchor investors.
The company's Rs 6,632 crore IPO would conclude on November 7.
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).
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.
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.
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.
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.
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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.
Groww will make its stock market debut on November 12.
Source: News18
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