Groww IPO Allotment, GMP Highlights: The allotment for Groww IPO (Billionbrains Garage Ventures Ltd) has been completed The focus now shifts to the listing scheduled for November 12, on both the BSE and NSE. The IPO was subscribed over 17 times.
| Groww India IPO | Key Details |
| Price Band | Rs 95-100 per share |
| IPO Date | Nov 4-7 |
| GMP | 4% |
| IPO Allotment date | November 10 |
| Listing date | November 12 |
If you’re excited to find out whether you are among the lucky investors who got the IPO allotment, you can check the allotment status online through NSE, BSE, and MUFG Intime India.
Groww IPO: Listing date
Post the allotment, Groww’s shares will be listed on the secondary markets, BSE and NSE, on November 12, as per the tentative schedule.
Groww raised Rs 6,632.30 crores from the primary markets via a combination of 10.60 crore fresh shares worth Rs 1,060 crores and offer for sale of 55.72 crore shares amounting to Rs 5,572.30 crores.
The IPO was opened for subscription on November 04 and will close on November 07. The company kept the price band between Rs 95 to Rs 100 per equity share.
Groww IPO Allotment, GMP, Listing LIVE Updates: Risk of third-party vendors
Groww's business is extremely dependent on third-party service providers for its various operations including payment infrastructure, software, credit data, etc. Customers may incur losses if any disruptions or failure occurs in these third party services. Further, this integration with third-party vendors makes the company vulnerable to the cybersecurity risks including cyber threats, data breaches, and customer losses.
Groww IPO Allotment, GMP, Listing LIVE Updates: Groww's main competitors
Groww faces competition from digital-first platforms such as Zerodha and Angel One, as well as from traditional bank-backed brokers like ICICI Securities, HDFC Securities, and SBICap Securities. It also competes with established wealth management firms including 360 One, Motilal Oswal, and Nuvama Wealth.
Groww IPO Allotment, GMP, Listing LIVE Updates: Watch out for key risks
Technical glitches and technological anomalies like login issues, payment delays, which Groww has faced in past poses a risk to the company. Further, market volatility and geopolitical risks should also be taken into consideration as these can impact transactions during specific events. Also regulatory changes, such as new framework for derivatives can impact the business operations and should be watched out for.
Groww IPO Allotment, GMP, Listing LIVE Updates: Watch out for Groww's employee expenses
In FY24 , the company incurred a net loss of Rs 805.45 crore largely pertaining to one-time performance based incentive paid to management. The company paid out Rs 778.6 crore to its management in FY24, which increased its employee related expenses. In FY24, Groww had also rolled out a long term incentive plan which it later cancelled.
There are few risks related to Groww's IPO bids which should be looked out for. These include working capital risk, especially during the periods of increases customer activity. The time lag between customer fund transfer and settlement along with increased margin requirements from exchanges, makes the company vulnerable to the risk of failing to arrange adequate working capital.
Groww IPO Allotment, GMP, Listing LIVE Updates: India's most active investment platform
According to the Redseer Report, Groww was India’s largest and fastest-growing investment platform by active users on NSE as of June 2025. This has been shared by Groww in its DRHP. As of June 2025, Groww had 12.6 million active clients on NSE.
Digital-first platforms have transformed consumer-facing sectors like Financial Services, Food Delivery, Retail, and Travel & Hospitality by addressing key pain points around access, convenience, and transparency, enabling rapid scale and profitability. In India, digital investment platforms have similarly redefined user experience, simplicity, and accessibility, capturing 76–78% of active NSE clients in FY25.
Groww IPO Allotment, GMP, Listing LIVE Updates: Business model
Groww has been a leading player in India’s retail investing space. The company has also demonstrated strong and consistent retention in the first quarter following customer acquisition, with rates ranging between 84.8% - 92.9% across cohorts from FY22 to March 31, 2025.
Groww has developed most of its technology in-house, enabling the company to deliver a seamless and superior experience to its customers
Speaking on the Groww va;uation, Anand Rathi highlighted, "At the upper price band, the company is valued at 33.8x FY25 P/E,. Groww seeks to strengthen its pan-India brand by focusing on trust, transparency, and financial inclusion while expanding its customer base organically through word-of-mouth and operating leverage."
The company also plans to diversify its product suite with offerings like MTF, commodity derivatives, API trading, wealth management and Bonds to enhance engagement, wallet share and AARPU. Anand Rathi says based on these factors, "the IPO appears fully priced and is rated, 'Subscribe for Long-term' .
Groww IPO Allotment, GMP, Listing LIVE Updates: What's the GMP signalling
The Groww GMP signals caution ahead of listing. According to the trends available, the GMP has declined significantly, highlighting investor caution ahead of the listing on November. In fact that the GMP has been trending lower for the past two days.
India’s capital markets have seen strong investor growth over the past five years, yet penetration remains low. As of CY24, only 16–18% of adults hold demat accounts, and active broking account penetration is 5%, compared to 62% in the U.S., indicating a >10x growth runway.
Groww IPO Allotment, GMP, Listing LIVE Updates: Subscription
The Groww IPO subscribed 17.6 times overall. Investors placed bids for over 641 crore shares against 36.47 crore shares available.
Groww IPO Allotment, GMP, Listing LIVE Updates: Strong user acquisition
With more than 83% of user acquisitions between FY23–FY25 being organic, driven by product-led growth and word-of-mouth referrals, Groww has achieved low CAC and high operational leverage. Around 81% of its user base comes from Tier-2 and Tier-3 cities, with 45% of users below 30, reflecting deep penetration among India’s young investor community.
Groww IPO Allotment, GMP, Listing LIVE Updates: Issue structure and fundraising
The IPO raised a total of Rs 6,632.30 crore, making it one of the largest fintech issues of the year. The offering included a fresh issue worth Rs 1,060 crore and an offer for sale (OFS) of Rs 5,572.30 crore, allowing early investors and shareholders to pare their stakes.
Groww IPO Allotment, GMP, Listing LIVE Updates: Check the listing date
The Groww IPO is set to be listed on the exchanges on Nov 12. As per the GMP trends, it is unlikely to deliver a big listing pop. However, readers must remember that the GMP is an unofficial indicator of the investor sentiment. The actual listing price may differ from the GMP trend.
Groww IPO Allotment, GMP, Listing LIVE Updates: Refund and fund unblocking
For those who were not allotted shares, the refund or unblocking of funds (for UPI applications) will be processed by November 11, according to the IPO schedule.
Applicants who receive partial or no allotment can expect funds to reflect in their bank accounts within one working day of the refund date.
Groww IPO Allotment, GMP, Listing LIVE Updates: How to check allotment status
Investors can verify their Groww IPO allotment status using any of the following methods:
Visiting the MUFG Intime India website (registrar portal)
Checking on the BSE or NSE IPO allotment pages
Entering details such as PAN, application number, or DP client ID
Groww IPO Allotment, GMP, Listing LIVE Updates: Allotment finalised on November 10
The basis of allotment was finalised on November 10,, determining which applicants secured shares. The allotment process was handled by MUFG Intime India Pvt. Ltd., the official registrar to the issue. Successful bidders will receive their shares in demat accounts, while those who missed out can expect refunds as per the prescribed timeline.
Groww IPO Allotment, GMP, Listing LIVE Updates: About the company
Incorporated in 2017, Groww is a Bengaluru-based fintech platform that allows retail investors to invest directly across multiple financial products. The company offers a digital, direct-to-customer investment platform designed to make wealth creation simple and accessible.
Through its platform, users can invest in mutual funds, stocks, futures and options (F&O), exchange-traded funds (ETFs), initial public offerings (IPOs), digital gold, and even U.S. stocks. Its mobile app has gained strong popularity, especially among mutual fund investors, for its easy-to-use interface and transparent process.
Groww IPO Allotment, GMP, Listing LIVE Updates: Recent Acquisitions
Groww recently acquired wealth management firm Finwizard Technology known as Fisdom, for approximately Rs 960 crore in an all-cash transaction. The deal, pending regulatory approval, positions Groww to expand its offerings into the wealth management space.
Groww IPO Allotment, GMP, Listing LIVE Updates: Utilisation of funds
Proceeds from the fresh issue will support expansion and strengthen core infrastructure. The company plans to allocate Rs 152.5 crore towards cloud systems, Rs 225 crore for marketing, Rs 205 crore to its NBFC unit, and Rs 167.5 crore for margin trading. The remaining funds will go into strategic and general corporate purposes.
Groww IPO Allotment, GMP, Listing LIVE Updates: Angel One on the IPO
“At the upper price band of Rs 100 per share, the company is valued at a post-issue P/E of 40.79x, the valuation appears steep compared to peers. So we assign a “Neutral” rating for investors with a long-term perspective,” said Angel One in its IPO note
Groww IPO Allotment, GMP, Listing LIVE Updates: Who is backing Groww?
Global investors including Peak XV Partners, Ribbit Capital, Tiger Global, and Y Combinator have funded Groww’s rise. Their backing has not only strengthened its financial position but also supported its product expansion into new categories such as bonds and derivatives.
Groww IPO Allotment, GMP, Listing LIVE Updates: Groww IPO Subscription
Groww IPO was subscribed 17.6 times overall. Of which:
QIBs subscribed 22.02x, non-institutional investors subscribed 14.2x and retail investors subscribed 9.43x.
Groww IPO Allotment, GMP, Listing LIVE Updates: Subscription recap
The Groww IPO on Day 3 of bidding was subscribed 17.60 times overall, with the retail category seeing 9.43 times subscription, the qualified institutional buyers (QIBs) category subscribed 22.02 times, and the non-institutional investors (NII) segment subscribed 14.20 times.
Groww IPO Allotment, GMP, Listing LIVE Updates: Anand Rathi take on this IPO
“At the upper price band, the company is valued at 33.8x FY25 P/E, implying a post-issue market capitalization of Rs 6,17,360 million. Groww seeks to strengthen its pan-India brand by focusing on trust, transparency, and financial inclusion while expanding its customer base organically through word-of-mouth and operating leverage. The company also plans to diversify its product suite with offerings like MTF, commodity derivatives, API trading, wealth management (‘W’), LAS, and Bonds to enhance engagement, wallet share, and AARPU. Considering these factors, the IPO appears fully priced and is rated “Subscribe – Long Term,” said Anand Rathi Research in its IPO note.
Groww IPO Allotment, GMP, Listing LIVE Updates: Arihant Capital on this IPO
“With revenue growing sharply at an 85% CAGR between FY23 and FY25 and profit margins improving to 45%, it expects to maintain steady growth through organic user additions, high customer retention, and rising average revenue per user. At the upper band of Rs 100, the issue is valued at a P/E ratio of 33.84x, based on a EPS of Rs 2.96 per share. We are recommending a “Subscribe for listing gain” rating for this issue,” said Arihant Capital in its IPO note
Groww IPO Allotment, GMP, Listing LIVE Updates: Brokerage take on this IPO
“The IPO comprises a fresh issue of Rs 1,060 Cr and an offer for sale of Rs 5,572 Cr, totaling INR 6,632 Cr. The proceeds from the fresh issue will be used for performance marketing (Rs 400 Cr), tech/inorganic growth (Rs 300 Cr), NBFC capital (Rs 200 Cr), and working capital (Rs 160 Cr). The IPO is priced at a P/E ratio of 41x based on FY25 EPS and EV/EBITDA of 25x TTM. This valuation appears premium compared to listed peers but justified relative to growth potential. With revenue growth at 50% in FY25 and PAT margin improving to 47%, the company is well-positioned to capitalize on the expanding wealth tech market. We assign a “Subscribe” rating,” said Deven Choksey Research in its IPO note.
Groww IPO Allotment, GMP, Listing LIVE Updates: Angel One take on this IPO
“At the upper price band of Rs 100 per share, the company is valued at a post-issue P/E of 40.79x, the valuation appears steep compared to peers. So we assign a “Neutral” rating for investors with a long-term perspective,” said Angel One in its IPO note
Groww IPO Allotment, GMP, Listing LIVE Updates: Business overview
Groww started in 2017 with a simple goal - to make investing easier for first-time users. Today, it operates as a one-stop platform for investing in mutual funds, stocks, ETFs, IPOs, bonds, and digital gold. Its direct-to-customer (D2C) model removes intermediaries, allowing users to manage all investments through its app.