Groww IPO Opens Nov 4 at ₹95-100 Share Price; Subscription Window to Close Nov 7 as GMP Hits ~14% Premium
Groww IPO Opens Nov 4 at ₹95-100 Share Price; Subscription Window to Close Nov 7 as GMP Hits ~14% Premium
Mumbai, November 6, 2025:
The much-awaited Groww IPO has officially opened for public subscription, marking one of the most anticipated fintech listings of the year. Backed by parent company Billionbrains Garage Ventures Ltd., the initial public offering is being closely tracked by retail investors, institutional funds, and market analysts alike.
The IPO window opened on November 4, 2025, and will close on November 7, 2025, with a price band set between ₹95 and ₹100 per share. The total issue size is estimated to be around ₹6,632 crore, comprising both a fresh issue of ₹1,060 crore and an offer for sale (OFS) of approximately ₹5,572 crore by existing shareholders.
IPO Structure and Key Dates
Retail investors can apply in lots of 150 shares, which translates to a minimum investment of ₹14,250 at the lower end and ₹15,000 at the upper limit. The basis of allotment is expected to be finalised by November 10, and the company’s shares are likely to list on the NSE and BSE on November 12, 2025.
The IPO has already drawn significant attention from retail investors, with Day 1 subscription figures showing strong participation from individuals and moderate interest from non-institutional and qualified institutional buyers.
Strong Grey Market Premium (GMP)
In the unlisted market, Groww’s shares are trading with a grey market premium (GMP) of about ₹14–₹17 per share, reflecting a potential 14–17% listing gain for investors. The positive sentiment suggests that demand could remain robust through the final day of bidding, although market analysts advise cautious optimism given the high valuation.
The subscription data so far shows that the retail quota has been oversubscribed, while the institutional and non-institutional segments are catching up gradually. Market watchers note that Groww’s retail following and brand recall among young investors have helped boost early momentum.
Why the Groww IPO Is Creating Buzz
Founded in 2016, Groww has emerged as one of India’s most popular online investment platforms, allowing users to invest in stocks, mutual funds, IPOs, ETFs, and bonds through a single digital interface. Over the years, the company has benefited from India’s booming retail participation in financial markets, with millions of first-time investors joining the ecosystem via mobile apps.
The company’s strong user base, digital-first model, and diversification into financial advisory services make it a major player in India’s rapidly growing fintech sector. Its impressive growth trajectory, rising revenues, and strong retail engagement have positioned Groww among the top contenders in the digital broking industry.
Valuation and Market Sentiment
At the upper price band of ₹100 per share, Groww’s valuation implies a post-issue price-to-earnings (P/E) ratio of around 40–41x, based on FY25 projected earnings. While this places the company in the premium bracket compared to traditional brokerage peers, analysts suggest that its scalable business model, high customer engagement, and brand strength justify part of the premium.
Still, the high valuation has sparked debate among market experts, with some cautioning that growth expectations are already heavily priced in. They advise retail investors to weigh short-term listing gains against long-term risks before subscribing.
Risks to Consider
Despite its rapid rise, Groww’s business faces several challenges:
- Dependence on trading volumes: A downturn in market activity or investor sentiment could directly impact revenue.
- Regulatory uncertainty: The fintech and stockbroking industries are under close scrutiny by regulators, especially around margin trading and data privacy.
- High competition: With multiple digital investment platforms vying for users, retaining customer loyalty and profitability could prove challenging.
- Valuation risk: The IPO’s high valuation leaves little room for short-term error or slower growth rates.
Expert View and Investor Outlook
For investors, the Groww IPO presents a mixed proposition:
- For short-term investors: The current grey market premium suggests the possibility of strong listing gains.
- For long-term investors: The company’s digital innovation, customer trust, and expanding service ecosystem make it a promising fintech play, provided execution remains steady and regulatory conditions stay favorable.
However, experts also note that the stock’s performance post-listing will depend heavily on broader market sentiment and quarterly earnings delivery in the coming fiscal year.
