IPO calendar: Groww leads an action-packed week for listings worth Rs 6,800 crore

Dalal Street is gearing up for another busy week of public offerings, led by the highly anticipated IPO of Groww, which will test investor appetite for India’s new fintech stocks amid a wave of regulatory and market volatility. In addition, a handful of smaller SME issues will also come to market, keeping private investors involved. With around Rs 6,800 crore worth of issues set to open this week on motherboard and SME platforms, investors will have no shortage of options, but given the mixed sentiment, experts advise focusing on fundamentals rather than chasing stock market gains.

Mainboard focus: Groww IPO in the spotlight

The clear headline act this week is Billionbrains Garage Ventures, the parent company of Groww, whose Rs 6,632 crore IPO opens on Tuesday, November 4 and closes on Friday, November 7. The digital investment platform has set a price range of Rs 95-100 per share, with a mix of new issue (Rs 1,060 crore) and offered for sale (OFS) by early investors such as Peak XV Partners, Ribbit Capital and Tiger Global.

The issue will be listed on both the BSE and NSE with Kotak Mahindra Capital acting as lead manager. The IPO will be closely watched as it comes at a time when Indian discount brokers – including Groww, Zerodha and Angel One – are facing stricter regulations in the derivatives segment and are focusing on new revenue streams. Analysts expect strong retail participation, but muted fireworks on listing day, given the cautious tone in the broader fintech space.

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SME corner: steady stream of smaller listings

While Groww remains in the spotlight, activity in the SME segment remains vibrant, with three topics on the agenda this week. Curis Lifesciences will open its IPO on Friday, November 7 and close on Tuesday, November 11, with shares in the price range of Rs 120-128. The issue size is a modest Rs 27.52 crore and will be listed on the NSE SME platform, with Finaax Advisors as the lead manager. The company, a player in the pharmaceutical and life sciences sectors, plans to use the proceeds for working capital and business expansion. Finbud Financial Services, a financial advisory and lending solutions company, will open its IPO on Thursday, November 6 and close on Monday, November 10. It has set a price range of Rs 140-142 per share for an issue size of Rs 71.68 crore. The issue will be listed on NSE SME, managed by SKI Capital. Another issue, Shreeji Global FMCG, will run concurrently with Groww’s offering, opening on Tuesday, November 4 and closing on Friday, November 7. With an issue size of Rs 85 crore and a price band of Rs 120-125 per share, it is aiming to list on the NSE SME stock exchange. Interactive Financial Services is the lead manager.

The IPO pipeline remains strong as companies look to take advantage of booming stock markets before the end of the year. The success of motherboard offerings in recent months – including LG’s – has revived investor confidence, even as secondary market volatility has made investors more selective.