Groww IPO: Issue Oversubscribed 3.5X On Day 3 So Far

SUMMARY

Groww’s public issue received bids for 641.86 Cr shares against 36.48 Cr shares available for subscription

Qualified institutional buyers showed the highest interest in the issue, with their portion subscribed 22.02X

Retail investors placed bids for 62.54 Cr shares compared to 6.63 Cr shares available for them, translating to 9.43X oversubscription

Update | November 7, 19:00 IST

Groww’s IPO closed with a bumper 17.6X oversubscription on the final day of bidding. The public issue received bids for 641.86 Cr shares against 36.48 Cr shares available for subscription.

Qualified institutional buyers (QIBs) showed the highest interest in the issue, with their portion subscribed 22.02X. They placed bids for 438.03 Cr shares against 19.89 Cr shares on offer.

Within this segment, foreign institutional investors (FIIs) bid for 242.53 Cr shares, while mutual funds and domestic financial institutions placed bids for 132.92 Cr and 29.29 Cr shares, respectively.

The non-institutional investors’ (NIIs) segment saw 14.2X oversubscription, receiving bids for 141.28 Cr shares against 9.94 Cr shares on offer.

Meanwhile, retail investors placed bids for 62.54 Cr shares compared to 6.63 Cr shares available for them, translating to 9.43X oversubscription.

Original | November 7, 13:22 IST

Fintech company Groww’s IPO continued to see strong investor interest on the final day of bidding and was oversubscribed 3.52X as of 12:30 IST today, receiving cumulative bids for 128.5 Cr shares against 36.48 Cr shares on offer.

Retail institutional investors (RIIs) continued to show the most interest in the public issue. Their quota was oversubscribed 7X, getting bids for 47 Cr shares against 6.63 Cr shares reserved for them.

The portion reserved for non-institutional investors (NIIs) was oversubscribed 5.65X. They placed bids for 56 Cr shares against 9.94 Cr shares on offer.

Within the NII category, investors bidding for more than INR 10 Lakh led the participation, with their portion oversubscribed 5.7X. The quota reserved for those with a bidding amount between INR 2 Lakh and INR 10 Lakh was oversubscribed 5.3X.

The participation by qualified institutional buyers (QIBs), who showed muted interest on the first two days of bidding, picked up pace on the final day. They placed bids for 25 Cr shares against 19.89 Cr shares on offer, translating to 1.2X oversubscription.

Groww has set a price band of INR 95 to INR 100 per share for its public issue, valuing the company at INR 61,735 Cr (around $7 Bn) at the upper end. The INR 6,600 Cr IPO comprises a fresh issue of INR 1,060 Cr and an offer-for-sale (OFS) component of up to 55.72 Cr shares.

Tiger Global, Peak XV Partners, Y Combinator, Ribbit Capital, Kauffman Fellows, Alkeon Capital Management, Propel Venture Partners, and Sequoia Capital are among the investors selling shares via the OFS.

The issue will close today and the company’s shares are expected to list on the exchanges on November 12 (Wednesday).

Groww raised INR 2,984.5 Cr from anchor investors ahead of the IPO. The list of anchor investors featured the likes of Goldman Sachs, Societe Generale, Abu Dhabi Investment Authority, and the Government of Singapore, along with 17 domestic mutual funds.

The company plans to utilise the capital raised from fresh issue for marketing, bolstering its NBFC arm, investing in margin trading subsidiary Groww Invest Tech, and funding expenditure towards cloud infrastructure and inorganic growth through unidentified acquisitions.

On the financial front, the company reported a net profit of INR 378.4 Cr in Q1 FY26, up 12% from INR 338 Cr in the year-ago quarter. However, operating revenue declined 9.6% to INR 904.4 Cr during the quarter under review from INR 1,000.7 Cr in Q1 FY25.

In FY25, Groww posted a net profit of INR 1,824.4 Cr as against a loss of INR 805.5 Cr in the previous fiscal year. Operating revenue zoomed about 50% to INR 3,901.7 Cr from INR 2,609.3 Cr in FY24.