Tue Nov 04 02:10:00 UTC 2025: Here’s a summary and a news article based on the provided text:

Summary:

Groww’s IPO, valued at Rs 6,632.30 crore, saw a 10% subscription on its first day, driven mainly by retail and non-institutional investors. The IPO price band is set at Rs 95-100 per share, aiming for a valuation exceeding Rs 61,700 crore. The company raised over Rs 2,984 crore from anchor investors. Groww reported a significant profit increase in FY25, driven by organic customer acquisition and strong SIP inflows in mutual funds. The company is India’s largest stockbroker with a substantial market share. Proceeds from the IPO will be used for technology development and business expansion.

News Article:

Groww IPO Off to a Modest Start, Subscribed 10% on Day One

Mumbai: The initial public offering (IPO) of stock broking platform Groww saw a lukewarm response on its first day, with a 10% subscription rate by the close of trading on Tuesday. The Rs 6,632.30 crore IPO, which opened for subscription on November 4th and closes on November 7th, is being driven primarily by interest from retail and non-institutional investors.

Data from the NSE indicates bids for 3.44 crore shares were received against the 36.47 crore shares on offer by 10:50 AM. The retail individual investors (RII) category led the charge, subscribing 36% of their allocated shares, while the non-institutional investor portion was subscribed 9%.

Ahead of the public offering, Groww successfully raised Rs 2,984 crore from anchor investors, including prominent entities such as Abu Dhabi Investment Authority and the Government of Singapore.

The company has set a price band of Rs 95-100 per share, aiming for a valuation of over Rs 61,700 crore. Grey market activity suggests a potential listing gain, with shares trading at a premium of Rs 17.

Groww, backed by notable investors like Peak XV, Tiger Capital, and Microsoft CEO Satya Nadella, intends to utilize the IPO proceeds for technology development and business expansion. The company reported a profit of Rs 1,824 crore in FY25, a threefold increase from the previous year, despite industry headwinds related to SEBI’s tightening of F&O norms.

As of June 2025, Groww held the position of India’s largest stockbroker, boasting over 12.6 million active clients and a market share exceeding 26%. The IPO shares are scheduled to be listed on November 12th, with allotment expected by November 10th.

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