Groww IPO subscribed 57% on Day 1: Check price band, lot size and other key details

Groww IPO: The initial public offering of Billionbrains Garage Ventures, the parent company of stockbroker Groww, has been subscribed 57% on the first day of bidding on Tuesday, November 4. The issue will conclude on Friday, November 7. The price band has been set at ₹95 to ₹100 per share.

The initial share sale seeks to raise ₹6,632.30 crore via fresh issuance of shares aggregating to ₹1,060 crore and an offer for sale (OFS) of ₹5,572.30 crore.

Under the OFS, the company's promoters, Harsh Jain, Lalit Keshre, Ishan Bansal and Neeraj Singh, are each offering up to 1 million shares. Investors Peak XV Partners Investments VI-1, Ribbit Capital V, YC Holdings II, Internet Fund VI Pte Ltd, GW-E Ribbit Opportunity V, and Kauffman Fellows Fund, LP are also divesting shares.

The fresh issue proceeds will be used for expenditure towards cloud infrastructure, performance marketing activities and brand building activities, investment in material subsidiaries and funding inorganic growth through unidentified acquisitions and corporate general purposes.

Groww IPO Day 1: Subscription status

Groww IPO: Lot size

A lot consists of 150 shares and in multiples thereafter. The company has set aside 75% of the net offer for QIBs, 15% for NIIs and 10% for retail investors.

Before the IPO, Billionbrains Garage Ventures garnered ₹2,984.5 crore from anchor investors, including Abu Dhabi Investment Authority, the Government of Singapore, the Monetary Authority of Singapore, Goldman Sachs and Morgan Stanley, HDFC Mutual Fund, Nippon India MF, SBI MF, Axis MF, Kotak Mahindra MF, Aditya Birla Sun Life MF, Motilal Oswal MF, ICICI Prudential Life Insurance and Mirae Asset.

Groww IPO allotment and listing dates

Groww is a digital investment platform allowing customers to invest in stocks, derivatives, mutual funds, bonds, and other products.

Groww IPO GMP

According to media reports and investorgain.com, Groww's unlisted shares are trading at ₹117, reflecting a grey market premium of 17%, or ₹17, over the upper price band of ₹100.