Groww IPO allotment to be finalized today: How to check
What's the story
The allotment status for the Groww IPO (Billionbrains Garage Ventures) will be finalized today, and shares will be credited to demat accounts by tomorrow, ahead of the listing on Wednesday. The fintech company, which runs one of India's largest retail investment platforms, had launched a ₹6,632 crore IPO in the price band of ₹95-100 per share. The issue comprised a fresh issue worth ₹1,060 crore and an offer for sale worth ₹5,572 crore by existing investors.
Investor interest
How was the demand for Groww IPO?
The Groww IPO garnered a massive response from investors, with qualified institutional buyers (QIBs) subscribing 22.02 times, non-institutional investors 14.2 times, and the retail portion 9.43 times. This strong participation shows confidence in Groww's business model and growth prospects. However, the high oversubscription means that allotment chances for retail investors are slim.
Market performance
What is the GMP of Groww IPO?
The gray market premium (GMP) for the Groww IPO is around ₹4, indicating a 4% premium over the upper price band of ₹100. While the GMP has cooled slightly from its earlier highs, sentiment remains positive ahead of listing day. Analysts expect modest listing gains given the stock's 4% GMP and solid anchor book participation.
Allotment verification
How to check Groww IPO allotment status
Investors who applied for the Groww IPO can check their allotment status on the registrar's website, MUFG Intime India Private Ltd. To do so, they need to visit the site and select "IPO Allotment Status" on the homepage. After selecting Billionbrains Garage Ventures (Groww) from a dropdown menu and entering any PAN number or application number, they will be able to see if shares have been allotted and how many were received.