Groww IPO Closes Today: Latest GMP, Subscription Trends, Allotment Timeline and Listing Expectations

The public issue of Billionbrains Garage Ventures Ltd—better known as the parent company of Groww—reaches its final day of bidding today, drawing intense interest from retail investors and market watchers. The ₹6,632 crore offering, opened on November 4, has been seen as a key test for investor appetite in India's fast-expanding fintech sector.

By late Friday morning, the IPO was subscribed nearly three times, reflecting steady participation across investor categories. Groww’s price band of ₹95–100 per share has attracted substantial traction from individual investors, while institutional demand is expected to firm up later in the day.

Grey Market Premium Moderates but Stays Positive

In the grey market, Groww continues to trade with a premium, though the enthusiasm has cooled slightly. As of Friday morning, the IPO was carrying a GMP of around ₹6 per share—down from nearly ₹11 earlier in the week.

This revised premium indicates a possible listing price near ₹106, implying modest listing gains of roughly 6%, assuming broader market sentiment remains supportive. Analysts point out that the dip in GMP is more reflective of global market caution than diminishing confidence in the company.

Allotment and Listing Dates

Investors now await next week’s allotment process.

• Share allotment finalisation: November 10

• Refund initiation: November 11

• Demat credit of shares: Before November 12

• Listing on BSE and NSE: Expected on November 12

Allotment details can be checked on MUFG Intime India Pvt Ltd’s portal using PAN, application number, or DP details. Exchanges will also mirror allotment updates once finalised.

Analysts Assess Valuation and Future Trajectory

Market experts remain divided on whether Groww’s valuation offers sufficient upside for long-term investors. The platform has grown into a major force in India’s retail investing ecosystem, with strong user retention and rapid expansion across financial products.

Research notes highlight that Groww leads search popularity among top brokers and retains roughly 78% of users beyond their third year of activity. Its cohort retention between FY22 and FY25 has remained robust, signalling strong user trust and stickiness.

At the upper price band, Groww is valued at 33.8x FY25 earnings, with an estimated post-issue market cap of ₹61,736 crore. The company aims to widen its offerings—such as MTF, commodity derivatives, API-based trading, wealth management, loans against securities, and bonds—to improve wallet share and revenue per user.

As the IPO Closes, What Should Investors Expect?

The final subscription numbers and post-allotment reactions will set the tone for Groww’s debut. Analysts anticipate a mildly positive listing, buoyed by strong retail enthusiasm and stable GMP trends. While short-term listing gains appear likely, long-term performance will depend on Groww’s ability to justify its valuation and scale profitability in a competitive fintech environment.