The $754-million initial public offering (IPO) by Groww‘s parent company Billionbrains Garage Ventures was fully subscribed on the second day of launch on Thursday, led by retail investors.
India’s largest stock broker by number of active users received bids for 366.8 million shares as of 11:15 a.m. IST, as against 364.78 million shares on offer, exchange data showed.
Backed by Peak XV Partners and Tiger Global, Groww had raised 29.85 billion rupees ($339.61 million) from the so-called anchor investors on Monday ahead of the public launch of its IPO, which will close on November 7.
The issue ranks among the largest offerings so far in 2025, following floats by the likes of Tata Capital TATC.NS, LG Electronics India and HDB Financial, in what is expected to be a record year for fundraising in the Indian primary market.
Reuters
