- Billionbrains Garage Ventures IPO subscribed 1.64 times by second day of subscription
- IPO price band fixed between Rs 95 and Rs 100 per share with issue size of Rs 6,632.3 crore
- IPO funds growth, cloud infrastructure, and investments in subsidiaries
Groww-parent Billionbrains Garage Ventures Ltd has opened its highly anticipated public issue for subscription. The IPO was subscribed 1.64 times on the second day on Thursday.
The price band for the offering is fixed between Rs 95 and Rs 100 per share, with an issue size totaling Rs 6,632.3 crore. The IPO is structured as a mix of a fresh issue and an offer for sale by existing shareholders, aimed at funding growth initiatives like strengthening cloud infrastructure and investing in subsidiaries.
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The IPO had garnered a little over Rs 2,984 crore from anchor investors on Monday, including Abu Dhabi Investment Authority and the Government of Singapore.
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Kotak Mahindra Capital Ltd. is the book running lead manager and MUFG Intime India Pvt. is the registrar of the issue. The bankers handling the offer include JPMorgan, Kotak Mahindra Capital, Citigroup, Axis Capital, and Motilal Oswal.
The shares of Billionbrains Garage Ventures (Groww) Ltd. are expected to list on the BSE and NSE on Nov. 12.
Subscription Status
The Billionbrains Garage Ventures IPO has been subscribed 1.64 times as of 5 p.m. on Thursday.
Qualified Institutional Buyers (QIBs): 20%
Non-Institutional Investors (NIIS): 2.26 times
Retail Individual Investors: 5.02 times
Groww IPO GMP Today
According to InvestorGain, the latest grey market premium for the IPO was Rs 11.5 as of 6:53 p.m. on Nov 6. With an upper price band of Rs 100, the estimated listing price is Rs 115.5. This indicates an expected gain of 11.5% per share for investors.
Note: GMP does not represent official data and is based on speculation.
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.
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