Groww debuts with 12% premium on listing, reflects strong investor sentiment
Mumbai (Maharashtra) [India]: Online investment platform Groww made a strong market debut on Wednesday, listing at Rs 112 per share, a 12% premium over its issue price of Rs 100.
The much-awaited IPO’s performance indicates healthy investor confidence in India’s fast-growing fintech sector.
Groww’s Rs 6,632 crore initial public offering (IPO) received an overwhelming response, being subscribed 17.6 times by the close of bidding. The issue saw robust participation across categories — qualified institutional buyers (QIBs) subscribed 22.02 times, non-institutional investors 14.2 times, and retail investors 9.4 times.
Groww operates a digital investment platform offering access to mutual funds, stocks, F&O, ETFs, IPOs, digital gold, and U.S. equities. Over the years, it has become one of India’s leading investment platforms, driven by its intuitive interface and focus on digital accessibility.
In its revenue mix, broking services contribute around 85% of total income, while the remaining 15% comes from interest-related earnings.
The IPO was managed by Kotak Mahindra Capital Company, J.P. Morgan India, Citigroup Global Markets India, Axis Capital, and Motilal Oswal Investment Advisors as the book-running lead managers.
