Groww IPO GMP, Subscription Status Day 3 Online Live Updates: The Groww IPO has entered Day 2 of subscription. Investors have until Friday, November 7, to place their bids. The issue opened on November 4, giving retail and institutional investors three days to participate in the IPO bidding.
| Groww India IPO | Key Details |
| Price Band | Rs 95-100 per share |
| IPO Date | Nov 4-7 |
| GMP | 15% |
| IPO Allotment date | November 10 |
| Listing date | November 12 |
Groww IPO price band and minimum investment
The IPO is priced between Rs 95-100 per share. Investors looking to apply will need to purchase lots of 150 shares. This means a minimum investment of around Rs 15,000 at the upper end of the price band.
Groww IPO: Issue structure explained
The total issue size stands at Rs 6,632.30 crore. Of this, Groww is raising Rs 1,060 crore through a fresh equity issuance. The remaining shares, approximately 55.72 crore, will be sold by existing investors through an offer for sale (OFS). Key shareholders offloading stakes include Peak XV Partners, Ribbit Capital, Y Combinator, Tiger Global, and Kauffman Fellows Fund.
Allotment and refund timeline
Investors can expect the basis of allotment to be finalised on Monday, November 10. Refunds for unsuccessful applicants are likely to begin the following day, November 11, alongside crediting of shares to successful bidders demat accounts.
Groww IPO Subscription Status, GMP Live: 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,” aid Anand Rathi Research in its IPO note.
Groww's mobile app is particularly popular among mutual fund investors. Groww also offers value-added services such as Margin Trading Facility (MTF), algorithmic trading, New Fund Offers (NFOs), and credit. From a valuation perspective, the company is currently valued at P/E multiple of 29.9x based on its FY25 earnings.
Groww IPO Subscription Status, GMP Live: Bajaj Broking take on this IPO
"From a valuation perspective, the Company is currently valued at P/E multiple of 29.9x based on its FY25 earnings," said Bajaj Broking in its IPO note
Groww IPO Subscription Status, GMP Live: Deven Choksey Research 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 Rs 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 Subscription Status, GMP Live: Anchor investors
Before the IPO opened, Groww raised Rs 2,985 crore from anchor investors on November 3, 2025. These investors have a lock-in period - 50% of their shares are locked for 30 days and the remaining 50% for 90 days post-listing, as per SEBI rules.
Groww IPO Subscription Status, GMP Live: Issue structure
The IPO saw steady initial demand, especially from retail investors. The issue structure allots 75% to Qualified Institutional Buyers (QIBs), 15% to Non-Institutional Investors (NIIs), and 10% to retail investors.
Groww IPO Subscription Status, GMP Live: Listing date
Groww shares are expected to list on the NSE and BSE on November 12. Investors can begin trading from that day, and the listing performance will reveal the true market response to this high-profile fintech IPO.
Groww IPO Subscription Status, GMP Live: Refunds and share credit
For those who do not receive allotment, refunds will begin on November 11, 2025, along with the credit of shares to successful applicants’ demat accounts on the same day.
Groww IPO Subscription Status, GMP Live: Allotment date
The basis of allotment will be finalized on November 10. Investors can check their Groww IPO allotment status on the registrar’s website or on NSE/BSE once it is published.
Groww IPO Subscription Status, GMP Live: Use of IPO proceeds
The fresh issue proceeds will primarily be used for:
- Cloud infrastructure expansion: Rs 152.5 crore
- Brand building and marketing: Rs 225 crore
- Investments in material subsidiaries: Rs 372.5 crore (combined)
- Inorganic growth and general corporate purposes
Groww IPO Subscription Status, GMP Live: Company profile
Groww, launched in 2016 by former Flipkart employees Lalit Keshre, Harsh Jain, Ishan Bansal, and Neeraj Singh, has emerged as India’s largest digital investment platform. It allows users to invest in mutual funds, stocks, ETFs, fixed deposits, and other financial products through a mobile-first, paperless interface designed for ease of use.
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