When the markets opened this week, all eyes were on the Groww IPO—officially the public issue of Billionbrains Garage Ventures. The buzz was already strong on Day 1, but Day 2 brought the real momentum, turning the subscription numbers into a story investors couldn’t ignore.
The ₹6,632-crore Groww IPO didn’t just attract attention—it crossed the finish line early, getting fully subscribed on the second day itself. And while the broader stock market today remained mixed, this IPO saw steady bids pouring in across categories.
Market Performance: Strong Bidding Momentum on Day 2
The Groww IPO subscription picked up pace as Day 2 progressed. By 11:15 am, the public issue had already crossed the 100% mark, reflecting active participation from retail and non-institutional investors.
Here’s how the bidding numbers stood:
- Total shares offered: 36.47 crore
- Bids received: Nearly 37 crore
- Overall subscription: 101%
- Retail investor subscription: 341%
- Non-Institutional Investors subscription: 121%
- QIB subscription: 10% of their reserved portion
Main News: Groww IPO Turns Fully Subscribed on Day 2
The Groww IPO Day 2 numbers underline how quickly the issue gained momentum. For a public issue worth ₹6,632.30 crore, reaching full subscription within 48 hours signals strong demand.
The IPO opened for subscription on November 4 and will remain open until November 7. The price band is set at ₹95–100 per share.
A minimum bid starts at 150 shares, translating to roughly ₹15,000 if you consider the upper limit of the price band.
Company Details: Billionbrains Garage Ventures & the Groww Story
Billionbrains Garage Ventures, the parent company behind Groww, has built one of India’s most widely used digital investment platforms. Over time, it has expanded its reach in the retail investing ecosystem, attracting millions of users across the country.
The company has structured its fundraising for the IPO as follows:
Fundraising Breakdown
- Total issue size: ₹6,632.30 crore
- Fresh issue: ₹1,060 crore
- Offer for sale: 55.72 crore shares, worth ₹5,572.30 crore
Groww’s focus on simplicity, mobile-first design, and accessibility has helped it build a strong presence in the digital investment landscape.
Important IPO Dates
- Opening date: November 4
- Closing date: November 7
- Allotment date: Expected on November 10
- Listing date: Likely on November 12
These Groww IPO key dates have been closely tracked by investors as the subscription numbers continued to rise.
Summary: Groww IPO Subscription Trends Point to Strong Retail Interest
The Groww IPO, under Billionbrains Garage Ventures, has seen steady interest across the first two days. The issue crossed 101% subscription before noon on Day 2, led mainly by retail investor participation at 341%.
With a ₹6,632 crore issue, a price band of ₹95–100, and fundraising via fresh issue and offer for sale, the Groww IPO is drawing significant attention in the stock market today.
The next key milestones include the allotment on November 10 and the likely listing on November 12, which will complete this much-tracked public issue.
Easy & quick
Leave A Comment?