Groww shares list at 14% premium over IPO price
Shares of Groww, India’s largest investment platform, made their Dalal Street debut at a 14% premium over the IPO price on Tuesday. The stock listed at Rs 114 and Rs 112 on the BSE and NSE, respectively, as against the issue price of Rs 100.
The company’s Rs 6,632-crore IPO, which was open for subscription between November 4 and November 7, had received a healthy overall subscription of 17 times, led primarily by qualified institutional investors. The retail portion was subscribed 9 times, while non-institutional investors subscribed 14 times. The allotment was finalised earlier during the week.
Groww’s listing comes at a time when new-age tech IPOs have witnessed mixed sentiment in the grey market.
Founded in 2016 by former…
