Shares of Groww, under Billionbrains Garage Ventures Ltd, are set to debut on the stock exchanges tomorrow, November 12. Investors are eagerly anticipating the listing to see if the stockbroking company can provide substantial gains following a week of fluctuating grey market trends.
The parent company, Billionbrains Garage Ventures Ltd, witnessed significant investor interest during the subscription period. The final allotment of Groww shares was completed on November 10.
The latest information reveals that the Groww IPO grey market premium (GMP) is at Rs 4, suggesting an anticipated listing price of Rs 104 per share, representing a 4% increase over the issue price of Rs 100.
Market indications hint that the stock may open with subdued enthusiasm compared to the earlier optimism observed last week.
The grey market, serving as a gauge of investor sentiment and demand for unlisted shares, has experienced notable fluctuations. Initially, on November 1, the GMP reached Rs 16.7, indicating a potential 16.7% gain at listing. However, the sentiment gradually cooled post the IPO closure on November 7.
By November 6, the GMP had fallen to Rs 11, and after the final allotment on November 10, it dropped further to Rs 4.75 before stabilizing at Rs 4 presently. This consistent decline suggests that the initial excitement has waned, and any listing gains might be modest.
Despite the overall subscription of 17.6 times for the IPO, reflecting strong investor interest across categories, the diminishing GMP implies that traders in the unofficial market foresee marginal upside on the listing day.
The IPO, which ran from November 4 to November 7, raised Rs 6,632.30 crore through a combination of fresh issue (Rs 1,060 crore) and offer for sale (Rs 5,572.30 crore). The pricing ranged between Rs 95 and Rs 100 per share, with a lot size of 150 shares.
With robust demand from retail and institutional investors, Groww garnered full subscription across all investor segments. The basis of allotment was finalized on November 6, refunds were initiated on November 8, and shares were credited to demat accounts on November 11.
Groww’s shares are scheduled to be listed on both BSE and NSE on November 12, 2025.
Market analysts suggest that the decline in the GMP reflects a shift in sentiment rather than a lack of confidence in the company’s fundamentals. The initial surge in premium likely stemmed from retail enthusiasm and brand recognition, but as the market turned cautious, traders began factoring in realistic expectations.
Despite the current subdued sentiment, many experts believe in Groww’s long-term potential in India’s digital investment landscape. The company, offering direct investment opportunities in various financial instruments, has established a substantial retail customer base and brand presence, particularly among novice investors.