The buzz surrounding the Groww IPO has been so pronounced in the market since June 29, when it was launched, and now that the subscription window is in its last day, the question that stands tall above the rest is, “Is it still worth applying, or should investors wait?”
Whereas the IPO has seen heavy demand at 17.6x, the grey market premium (GMP) has been falling rapidly at 6.5 raising questions about listing day gains. We will wish to list out all you should know.
Groww IPO Subscription status
- Aggregate subscription at the end of the 3rd day: 17.6x.
- 2 Day subscription: 1.64x (full subscription)
- Good retail and institutional interest, expressed with good market interest.
In spite of the dampening grey market mood, investor appetite is still good – an indicator that there is still long-term belief.
Groww IPO Details
| Part | Details |
| Company | Billionbrains Garage Ventures (Parent of Groww) |
| IPO Size | ₹6,632 crore |
| Price Band | ₹95–₹100 per share |
| Valuation | ₹61,700 crore (≈ $7 billion) |
| Fresh Issue | ₹1,060 crore |
| OFS (Offer for Sale) | 55.72 crore shares |
| Listing Date | November 12, 2025 |
Fund Utilization Plan
Groww intends to utilize fresh issue funds in:
| Purpose | Amount |
| Brand Building & Marketing | ₹225 crore |
| Capital for NBFC arm (Groww Creditserv) | ₹205 crore |
| Margin Trading Support (Groww Invest Tech) | ₹167.5 crore |
| Cloud Infrastructure | ₹152.5 crore |
| Acquisitions & Other Purposes | Remaining funds |
Why Groww Is a Strong Story
- Introduced in 2016, the biggest stockbroker in India.
- The number of active users (as of June 2025) is 12.6 million.
- The Indian market has 26% of the retail brokerage market share.
- It has good brand recall, user-friendly interface and high customer adoption.
GMP Today: A Warning Sign?
- Current GMP: 6.5 (Lowest since launch of IPO)
- Expected price of listing: ₹106.5 (at upper band ₹100)
- Estimated listing gain: ~6.5% to 10%
The decline in the GMP implies that listing gains in the short term might be capped, but the decline does not illustrate the long-term basics of the company.
Should You Apply or Avoid?
Apply if:
1. You are a long-term investor
2. You have faith in the Indian digital investing boom.
3. You desire to have exposure to the biggest Indian brokerage platform.
Avoid if:
1. No You are a listing-gain (short-term) investor
2. Knock it off. You have bumper debut expectations.
3. You need rapid post-listing momentum.
Analyst View
Most market experts believe:
“Groww IPO is excellent in business fundamentals, dominance in the market, and growth potential but not the right fit in the case of an investor who is seeking listing day returns at the existing GMP levels.
Final Verdict
| Investor Type | Decision |
| Long-term investor | Apply |
| Short-term/Listing gains | Avoid or Apply cautiously |
Conclusion
Although the GMP is weak, the very existence of Groww is strong, supported by the significant number of users and leading position on the market. The IPO might not be accompanied by boom listing returns, but it has long-term benefits in the growing retail investment landscape in India.
This IPO may be worth holding in case you are accumulating wealth over the years. It is not necessarily the best bet in case you are here to make a profit on the first day.
