Groww IPO gets fully subscribed on Day 2

The archetypal nationalist offering of Billionbrains Garage Ventures, the genitor institution of banal broking steadfast Groww, got afloat subscribed connected the 2nd time of stock merchantability connected Thursday.

The company's IPO received bids for 39,16,33,950 shares, arsenic against 36,47,76,528 shares connected offer, translating into 1.07 times subscription, arsenic per information disposable with the NSE till 11:45 hours.

Retail Individual Investors (RIIs) portion received 3.62 times subscription, portion the quota for non-institutional investors got subscribed 1.32 times.

The class for Qualified Institutional Buyers (QIBs) fetched 10% subscription.

Billionbrains Garage Ventures connected Monday garnered a small implicit ₹2,984 crore from anchor investors. The company's ₹6,632 crore IPO would reason connected Friday.

The steadfast has fixed a terms set of ₹95-100 per stock for its IPO, targeting a valuation of implicit ₹61,700 crore (about $7 billion).

The IPO has a caller contented of equity shares worthy ₹1,060 crore on with an Offer-for-Sale (OFS) constituent of 55.72 crore equity shares.

The company, which is backed by marquee investors specified arsenic Peak XV, Tiger Capital, and Microsoft CEO Satya Nadella, plans to usage proceeds from the IPO to put successful exertion improvement and concern expansion.

Of the caller issuance, ₹225 crore volition beryllium utilized for marque gathering and show selling activities, and ₹205 crore volition beryllium invested successful Groww Creditserv Technology Pvt Ltd (GCS), the NBFC arm, to augment its superior base.

Additionally, ₹167.5 crore volition beryllium infused into Groww Invest Tech Pvt Ltd (GIT) to money its borderline trading installation business, portion ₹152.5 crore has been earmarked to fortify unreality infrastructure.

The equilibrium volition beryllium utilised for backing inorganic maturation done acquisitions and for wide firm purposes.

Headquartered successful Bengaluru, Groww filed draught papers successful May with markets regulator Sebi for an IPO done a confidential pre-filing way and received Sebi's support successful August.

Groww opted for the confidential pre-filing route, which allows it to withhold nationalist disclosure of IPO details nether the DRHP until aboriginal stages. This way is gaining traction among Indian firms aiming for flexibility successful their IPO plans.

Founded successful 2016, Groww emerged arsenic India's largest stockbroker, with implicit 12.6 cardinal progressive clients and a marketplace stock of implicit 26 per cent arsenic of June 2025.

Groww volition marque its banal marketplace debut connected November 12.