Billionbrains Garage Ventures, popularly known as Groww, is set to finalize share allotments for its highly anticipated Initial Public Offering (IPO) on Monday. The Rs 6,632 crore IPO has garnered significant attention from investors across various categories.

Subscription Details

The Groww IPO witnessed robust demand, with an overall subscription rate of 17.6 times. Here's a breakdown of the subscription rates across different investor categories:

IPO Structure and Pricing

The IPO structure comprised two components:

• Fresh Issue: Rs 1,060 crore
• Offer for Sale: Rs 5,572 crore

The price band for the IPO was set at Rs 95-100 per share.

Allotment and Listing Details

Investors eager to check their allotment status can do so through:

1. MUFG Intime India's website (the registrar)
2. BSE portal

To check the status, investors will need to provide their PAN or application details.

Important dates for investors to note:

• Refund initiation for unsuccessful applicants: November 11
• Share credit for successful applicants: November 12
• Listing on BSE and NSE: November 12

Grey Market Premium

The grey market is indicating a modest premium for Groww shares:

• Current Grey Market Premium: Rs 5 per share
• Potential Listing Gain: 5% over the upper price band of Rs 100

About Groww

Groww operates as a fintech platform offering investment opportunities in:

• Mutual funds
• Stocks
• ETFs
• Digital gold

The company has demonstrated strong growth, serving over 12 million active clients.

Financial Performance

Groww's recent financial performance shows promising signs:

This marks a significant turnaround from the previous year's loss of Rs 805 crore.

The strong subscription rates across all investor categories, coupled with Groww's impressive financial performance, suggest a positive sentiment surrounding the IPO. However, investors should note that the modest grey market premium indicates tempered expectations for listing day gains. As always, it's crucial for investors to consider their financial goals and risk tolerance when making investment decisions.

Bengaluru-based stock broker Groww's parent company, Billionbrains Garage Ventures, is set to launch its Initial Public Offering (IPO) with significant participation from global sovereign wealth funds. The IPO, valued at ₹6,630 crore, has drawn attention from major international investors.

Key IPO Details

Anchor Investment Highlights

The IPO opened for anchor investors with a substantial ₹2,950 crore anchor investment book. Nearly 40 investors participated, including:

• Norway's Norges Bank Investment Management
• Abu Dhabi Investment Authority
• Singapore's GIC
• Local banks
• Mutual funds
• Foreign portfolio investors

Company Overview

Groww, operating under Billionbrains Garage Ventures, has established itself as a significant player in India's digital brokerage space:

• Active Users: 14.38 million
• Key Competitors: Zerodha and Angel One
• Headquarters: Bengaluru, India

IPO Structure

The public offering comprises two components:

1. New Share Issuance: The company will issue new shares worth ₹1,060 crore.
2. Offer for Sale: Existing shareholders, including Tiger Global and Peak XV Partners, will sell 557.2 million shares.

This IPO marks a significant milestone for Groww, reflecting the growing interest in India's fintech sector. The participation of major sovereign wealth funds underscores the global appeal of Indian tech startups and the potential for growth in the country's digital financial services market.

As the IPO opens to the public, it will be interesting to observe the response from retail investors and the overall market sentiment towards this offering in the competitive online brokerage space.