The initial public offering (IPO) of Billionbrains Garage Ventures Ltd, the parent company of Groww, closes for subscription today, November 7. The Rs 6,632 crore issue, which has drawn strong retail interest, will determine whether the company can live up to the hype surrounding India’s booming fintech space.
Groww opened its IPO on November 4 with a price band of Rs 95–100 per share. As of 11:30 am on Friday, the issue had been subscribed nearly 3 times, indicating strong demand.
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GREY MARKET PREMIUM FALLS
In the unofficial grey market, Groww’s IPO continues to command a premium, although it has softe
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