Grow’s IPO
Today, there is only a slight rise in the Indian stock market, but amid the market movements, there is a lot of talk about GROW IPO in the market. Because fintech company Billionbrains Garage Ventures Ltd. That means Groww’s IPO is performing well right now. The company’s issue was opened on 4th November and even today on 6th November, subscription is going on at a rapid pace. Also the GMP of the issue is also good. Due to this, it is being estimated that the company can give better gains to the investors after listing. Let us tell you about all the details related to IPO.
The issue of Grow Company is open on 4th and investors can invest money in it till 7th November. Right now it has got a slightly slower response as compared to subscription. But the company’s GMP is still positive. Due to this, investors who have invested money in the company also expect benefits from it.
IPO size
The size of Grow IPO is Rs 6,632.30 crore, which means the company is trying to raise this much money through its issue. Groww has fixed the price band of its IPO at Rs 95 to Rs 100 per share. New shares worth Rs 1,060 crore are being issued in this issue, while Offer for Sale (OFS) worth Rs 5,572.30 crore is for sale of shares to existing investors.
That’s it subscribed
Grow IPO is getting good response from investors. The issue has so far been subscribed 1.18 times, in which the share of retail investors is 3.96 times. The share of non-institutional investors (NII) is 1.47 times. Whereas, the Qualified Institutional Buyers (QIB) quota has received 0.10 times subscription.
How much return can I get?
The IPO of Grow’s company will be listed in the market next week. But even before the listing, the issue has created a stir in the gray market. According to the website of IPO Watch, the company’s GMP i.e. gray market price is currently at a gain of 14 percent. That means if the IPO is listed at this gain then investors will get a profit of Rs 14 on one share. The price of IPO which is currently Rs 100, will become Rs 114 after listing.