Groww IPO Allotment Today: Check Your Status! Listing Price Near Rs 104? Don't Miss Out!

The allotment status for the much-anticipated Groww IPO, from Billionbrains Garage Ventures Ltd, is being finalized today, November 10. This Rs 1,200-crore initial public offering saw an overwhelming response, with the issue being subscribed a remarkable 17.6 times, indicating strong investor interest, particularly from institutional investors.

Investors who applied for shares can check if they have been allotted any by visiting the website of KFin Technologies, the IPO registrar. They will need to select the Groww IPO, and then enter their PAN number, application number, or DP/Client ID. Alternatively, allotment status can also be checked directly through the Groww app or via the IPO section of their trading platform or broker.

The Grey Market Premium (GMP) for Groww IPO is currently around Rs 4 per share. This GMP suggests that the shares might list at approximately Rs 104, a slight increase from the issue price band of Rs 95–100. It's worth noting that the GMP has seen a moderation from earlier peaks of Rs 11–12, which analysts attribute to a recent cautious sentiment in the broader market. Despite this, the strong subscription levels signal robust confidence in Groww's long-term potential as a leading fintech player in India's wealth management sector. The official listing of Groww IPO is anticipated on November 12 on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

Impact: This news has a significant impact on the Indian stock market and investors. Successful IPOs often boost market sentiment, and the listing of a prominent fintech company like Groww is closely watched. It can attract further investment into the fintech sector and provide liquidity for existing shareholders. Rating: 8/10

Difficult Terms: * IPO (Initial Public Offering): The process where a private company offers its shares to the public for the first time, allowing it to raise capital. * Allotment: The process of distributing shares to investors who have applied for an IPO based on specific criteria, often involving a lottery system if oversubscribed. * Subscription: The total number of times an IPO issue has been applied for by investors compared to the total number of shares offered. For example, 17.6 times subscription means investors applied for shares worth 17.6 times the number of shares available. * Registrar: A company appointed by the issuer to manage the IPO application process, including receiving applications, processing them, and managing share allotment. KFin Technologies is acting as the registrar for this IPO. * Grey Market Premium (GMP): An unofficial indicator of demand for an IPO. It represents the premium at which IPO shares are trading in the grey market before their official listing on stock exchanges. A positive GMP suggests expected listing gains. * Fintech: Short for financial technology, it refers to companies that use technology to provide or improve financial services. * Wealth Management: A financial service that provides financial and investment advice to clients while managing their portfolios.