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What is the story about?
Billionbrains Garage Ventures, the parent company of online stockbroking platform Groww, is expected to finalise its IPO share allotment status on Monday, November 10, following a healthy subscription.
The mainboard issue , which opened for bidding on November 4, was overall subscribed 17.6 times on the last day of bidding on Friday, November 7.
The Groww IPO attracted bids for nearly 642 crore shares against 36.47 crore shares on offer, as per the NSE data. The Qualified Institutional Buyers (QIBs) booked their category 22 times, while the Non-Intuitional Investors (NIIs) subscribed the issue 14.2 times. The retail quota was booked 9.43 times.
The initial public offering (IPO) worth ₹6,632.3 crore was a combination of fresh issue of shares and an offer-for-sale (OFS) portion. The book-building issue included a fresh issuance of 10.6 crore shares, amounting to ₹1,060 crore and an OFS component of 55.72 crore shares, aggregating to ₹5,572.3 crore. The IPO price band was fixed at ₹95 to ₹100 per equity share. The IPO lot size per application was 150 shares.
The Bengaluru-based company has proposed to utilise ₹152.5 crore from the net proceeds of the IPO for expenditure towards cloud infrastructure, ₹225 crore towards brand building and ₹205 crore towards investment for augmenting the company’s capital base. A portion of the IPO will also be used for general corporate purposes.
Investors can check the Groww IPO share allotment status online via the BSE, NSE and the official website of the issue registrar, MUFG Intime India Pvt. Ltd.
Steps to check Groww IPO share allotment on the BSE
Visit the IPO allotment page on the BSE website: https://www.bseindia.com/investors/appli_check.aspx
Select 'Equity' as the issue type
Choose Billionbrains Garage Ventures Ltd. from the dropdown menu for issue names
Enter your application number or PAN to proceed
Click on Search to view your share allotment details
Steps to check IPO allotment on MUFG Intime India
Visit the link: https://in.mpms.mufg.com/Initial_Offer/public-issues.html
From the dropdown menu, select ‘Billionbrains Garage Ventures Ltd' from the list of companies
Select any one of these: PAN, Application Number, DP/Client ID, or Account Number/IFSC
Enter the required details as per your selection
Click on 'Submit' to check the allotment status
The share allotment status for the Groww IPO can also be checked on the NSE using the PAN and application number.
The company is expected to initiate refunds and transfer shares to the Demat accounts on November 11. The Groww IPO listing date has been tentatively fixed as November 12. Shares of Billionbrains Garage Ventures Ltd. will be listed on the BSE and NSE.
The mainboard issue , which opened for bidding on November 4, was overall subscribed 17.6 times on the last day of bidding on Friday, November 7.
The Groww IPO attracted bids for nearly 642 crore shares against 36.47 crore shares on offer, as per the NSE data. The Qualified Institutional Buyers (QIBs) booked their category 22 times, while the Non-Intuitional Investors (NIIs) subscribed the issue 14.2 times. The retail quota was booked 9.43 times.
The initial public offering (IPO) worth ₹6,632.3 crore was a combination of fresh issue of shares and an offer-for-sale (OFS) portion. The book-building issue included a fresh issuance of 10.6 crore shares, amounting to ₹1,060 crore and an OFS component of 55.72 crore shares, aggregating to ₹5,572.3 crore. The IPO price band was fixed at ₹95 to ₹100 per equity share. The IPO lot size per application was 150 shares.
The Bengaluru-based company has proposed to utilise ₹152.5 crore from the net proceeds of the IPO for expenditure towards cloud infrastructure, ₹225 crore towards brand building and ₹205 crore towards investment for augmenting the company’s capital base. A portion of the IPO will also be used for general corporate purposes.
Investors can check the Groww IPO share allotment status online via the BSE, NSE and the official website of the issue registrar, MUFG Intime India Pvt. Ltd.
Steps to check Groww IPO share allotment on the BSE
Visit the IPO allotment page on the BSE website: https://www.bseindia.com/investors/appli_check.aspx
Select 'Equity' as the issue type
Choose Billionbrains Garage Ventures Ltd. from the dropdown menu for issue names
Enter your application number or PAN to proceed
Click on Search to view your share allotment details
Steps to check IPO allotment on MUFG Intime India
Visit the link: https://in.mpms.mufg.com/Initial_Offer/public-issues.html
From the dropdown menu, select ‘Billionbrains Garage Ventures Ltd' from the list of companies
Select any one of these: PAN, Application Number, DP/Client ID, or Account Number/IFSC
Enter the required details as per your selection
Click on 'Submit' to check the allotment status
The share allotment status for the Groww IPO can also be checked on the NSE using the PAN and application number.
The company is expected to initiate refunds and transfer shares to the Demat accounts on November 11. The Groww IPO listing date has been tentatively fixed as November 12. Shares of Billionbrains Garage Ventures Ltd. will be listed on the BSE and NSE.
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