Final Allotment for Groww IPO Released; Shares Anticipated to List at ₹104

Post by : Bianca Suleiman

The awaited Groww IPO allotment has been announced today, Monday, November 10, marking a significant point for investors who participated in this offering. The IPO opened on November 4 and closed on November 7, receiving an overwhelming subscription of 17.6 times by the third day.

Subscribers can verify their allotment status via MUFG Intime India Private Ltd, the official registrar, by using their Application Number, Demat Account, or PAN. The procedure is user-friendly and offers a guided experience on the registrar’s website. Refunds for those who are not allotted shares will start processing from Tuesday, November 10, concurrently with the crediting of allocated shares to the demat accounts.

The current Grey Market Premium (GMP) for Groww stands at ₹4, significantly down from an earlier peak of ₹16.70. Given the IPO pricing range of ₹100, shares are projected to debut at around ₹104, indicating a modest 4% premium relative to the issue price. Analysts note the declining GMP over the past weeks, suggesting caution among short-term traders.

With the listing scheduled for Wednesday, November 12, focus now turns to the stock’s market entry. The robust subscription numbers alongside grey market dynamics reflect ongoing investor interest, even as the decreasing premium implies a tempered perspective for its initial trading phase.