The Initial Public Offering (IPO) of Billionbrains Garage Ventures, the parent company of fintech giant Groww, opened for subscription today, November 4, 2025. The issue received a strong response from retail investors as their reserved portion was oversubscribed within the first few hours of bidding.
As of 2:10 PM IST on Day 1, the ₹6,632.30 crore IPO was subscribed 0.37 times (37%) overall. Strong demand came from Retail Individual Investors (RIIs), who bid for 1.46 times their allotted quota.
However, other categories of investors remained less enthusiastic on the first day of the subscription process. The Non-Institutional Investors (NII) portion was also subscribed to 0.37 times, while Qualified Institutional Buyers (QIBs) are yet to place their bids.
Grey Market Premium Indicates Positive Listing
The Groww IPO Grey Market Premium (GMP) is currently trading between ₹17 and ₹18 per share. Based on the upper price band of ₹100, this GMP indicates a listing price of ₹117 to ₹118, which signifies that investors could expect a healthy listing gain of 17%-18%.
Groww IPO: Key Details
IPO Dates: The public issue is open from November 4 to November 7, 2025.
Price Band: The company has fixed the price band at ₹95 to ₹100 per equity share.
Issue Size: The total IPO size is ₹6,632.30 crore, which consists of a fresh issue of ₹1,060 crores and an Offer for Sale (OFS) of ₹5,572.30 crores by existing shareholders.
Lot Size: Retail investors can bid for a minimum of one lot of 150 shares, requiring a minimum investment of ₹15,000 at the upper price band.
Listing & Allotment: Share allotment is expected to be finalised on November 10, with shares listing on the BSE and NSE on November 12, 2025.
Official registrar: MUFG Intime India Private Limited has been selected as the official registrar of the public issue.
According to a Mint report, Anuj Gupta, Director at Ya Wealth, said that, “Groww IPO price band fixed at ₹95 to ₹100 per share, valuing the firm at around ₹61,700 crore. It had almost 14.38 million active users on its platform, with competitors including Zerodha and Angel One. However, Angel One corrected almost 29% in the last two years. We noticed that the Broking industry is facing challenges due to regulatory reform by SEBI. The main objectives of the Groww IPO are to fund business growth, provide an exit for existing investors, and augment the capital base of its subsidiaries. Investors can subscribe to this IPO for listing gain.”
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