Groww IPO GMP Declines: What Does The Grey Market Signal Ahead Of Listing This Week?
The grey market premium for Billionbrains Garage Ventures' IPO has declined significantly, signaling muted market expectations for the listing. Here's all you need to know about the latest GMP trends.
The Initial Public Offering (IPO) of Billionbrains Garage Ventures Ltd. (Groww) was subscribed 17.60 times on its third and last day of bidding on Friday. According to BSE data, the Rs 6,632.30-crore IPO received bids for 641.87 crore shares against 36.48 crore shares on offer.
Despite the strong investor appetite, the Grey Market Premium (GMP) for the mainboard offering has declined significantly since the IPO was launched on November 4. The falling GMP reflects market jitters over the valuation and could suggest narrower listing gains than initially anticipated. Early grey market trends had suggested an estimated listing gain of around 16-17%, but this has now dropped to a single digit since the IPO concluded.
The grey market premium (GMP) for the Groww IPO continues to be a top trending topic in the 'Business and Markets' category, as the company finalises the Groww IPO share allotment status today.
Groww IPO GMP Today
The Grey Market Premium (GMP) for the Groww IPO stood at Rs 4 per share as of 8:00 a.m. on November 10. Based on the upper price band of Rs 100, the unlisted shares of Billionbrains Garage Ventures were trading at Rs 104, an approximate listing gain of around 4%.
For context, this is the lowest GMP recorded for the Groww IPO since October 28.
While the GMP for the mainboard offer had initially increased ahead of its launch on November 4, it has since shown a consistent decline over the last few days. The highest GMP recorded for the Groww IPO was Rs 16.7 on November 1, which then slid to Rs 16.5 on November 3. A further drop was observed when the GMP touched Rs 14 on November 4, the day the IPO opened.
Note: GMP does not represent official data and is based on speculation. GMP data from InvestorGain.
Groww IPO: Key Details
The Billionbrains Garage Ventures (Groww) IPO is a book-building issue worth Rs 6,632.3 crore. It comprises a fresh issuance of 10.6 crore shares, valued at Rs 1,060 crore, and an offer-for-sale (OFS) of 55.72 crore shares, amounting to Rs 5,572.3 crore.
The price band for the IPO was set at Rs 95 and Rs 100 per share.
Kotak Mahindra Capital Ltd. is the book running lead manager and MUFG Intime India Pvt. is the registrar of the issue.
Groww IPO Listing Date
Shares of Billionbrains Garage Ventures (Groww) Ltd. are expected to list on the BSE and NSE on November 12.
The company will transfer shares to the Demat accounts of successful bidders on November 11, and refunds for non-allottees will be processed on the same day.
Use Of Proceeds
Billionbrains Garage Ventures, backed by Microsoft Chief Executive Officer Satya Nadella, will use funds raised in the IPO fresh issue to fund expenditure towards cloud infrastructure, brand building and performance marketing activities, investment in two material subsidiaries and funding inorganic growth through unidentified acquisitions and general corporate purposes.
About Groww (Billionbrains Garage Ventures Ltd.)
Groww, a Bengaluru-based online investment and trading platform, has become a leading player in India’s fintech sector. The company offers a wide range of investments across stocks, mutual funds and bonds through its app. It was incorporated in 2017. The company has also expanded into loans and financing solutions.
Financials
The company reported a 12% year-on-year (YoY) rise in profit at Rs 378.37 crore in Q1FY26 from Rs 338.01 crore in Q1FY25. Revenue from operations fell 9.6% YoY to Rs 904.4 crore in Q1FY26 from Rs 1,000.8 crore in Q1FY25.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
