Groww Software India Pvt Ltd’s ₹6,632 crore IPO, launched on 4 November, has seen robust demand, particularly from retail investors. The shares, priced at ₹95–₹100, are set to list on 12 November.
As of Day 2, overall subscriptions stood at 1.39 times, with retail investors leading at over 4×, non-institutional investors around 1.7–1.8×, and qualified institutional buyers at 0.15–0.18×.
The grey-market premium of ₹14.75 suggests a listing near ₹114.75, roughly 15% above the issue price.
Brokers cite Groww’s pan-India reach, in-house technology, strong revenue growth (~85% CAGR FY23–FY25), and reduced operating costs as key strengths.
Proceeds will fund cloud infrastructure, marketing, margin trading, NBFC expansion, and general growth. Analysts recommend “Subscribe” for listing gains, while noting risks from competition, regulation, and technology challenges.
Also Read: ₹1,060 Crore Groww IPO Gets 57% Day-1 Subscription