The initial public offering (IPO) of Billionbrains Garage Ventures, the parent company of stockbroking firm Groww, has garnered significant attention from investors, with the issue being oversubscribed 17.6 times by the end of Day 3. The IPO, with a total issue size of ₹6,632 crore, received bids for 641 crore shares against the 36 crore shares on offer, indicating strong demand particularly from institutional investors.
Qualified institutional buyers (QIBs) showed robust interest, subscribing 22 times by bidding for 438 crore shares compared to the allotted 19.89 crore shares. The allotment for the Groww IPO is scheduled for November 10, 2025, with shares expected to list around ₹105, signaling a 5% premium.
On Day 3, the IPO witnessed broad-based investor confidence, with the issue being subscribed 14.84 times overall. QIBs led the rally with an 18.10x subscription, followed by Non-Institutional Investors (NIIs) at 12.44x, and Retail Individual Investors (RIIs) at 8.64x. The IPO remains open for subscription till 5 pm, reflecting strong investor interest in the fintech major.
As the IPO enters its final bidding day, the Grey Market Premium (GMP) for Groww softened to 11%, reaching Rs 111. At the upper end of the price band, the issue values the investment platform at 33.8 times its FY25 earnings. BSE data shows that the IPO has received 59.84 crore bids against 36.47 crore shares available, resulting in an overall subscription of 1.64 times.
