Retail Individual Investors (RIIs) have bid 3.62 times for shares, making them the most enthusiastic category. Non-institutional investors who bid between ₹ 2 and 10 lakh also showed robust demand at 2.02 times the subscription amount. Qualified institutional buyers, however, remain subdued at just 0.10 times the subscription rate, mainly driven by mutual funds bidding for nearly 2 crore shares.
The total non-institutional investor category recorded 1.32 times as many registrations. The issue, which closes on November 7, includes a fresh issue of ₹1,060 crore and an offer for sale of ₹5,572 crore.
Choice Equity Broking has assigned a rating of ‘Subscribe for the Long Term’, noting that the company is valued at 33.1 times trailing twelve-month earnings, which ‘appears fully priced’. Anand Rathi Research concurred with a similar rating, saying the IPO “appears fully priced” at 33.8 times FY25 price/earnings, but recognized Groww’s strong fundamentals and growth prospects.
Groww, India’s largest investment platform for active NSE users, reported 49.5 percent year-on-year revenue growth to ₹3,902 crore in FY25, with a profit margin of 46.8 percent.
Published on November 6, 2025
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