Groww IPO Listing Live Updates: GMP edges higher as parent firm set for Dalal Street debut

Groww IPO Listing Live Updates:

The shares of Billionbrains Garage Ventures, parent company of the stock market trading platform Groww, are set to make their stock market debut on Wednesday. This, after its ₹6,632 crore IPO received a healthy response during its three-day subscription period. The IPO saw overall subscription of 17.6 times, with investors placing bids for 641 crore shares, in comparison to the 36.47 crore shares on offer. Subscription came from institutional investors, for whom majority of the IPO was reserved for (75%). The institutional portion was subscribed 22 times, while the non-institutional portion saw subscription of 14.2 times the total number of shares on offer. Retail investors, for whom only 10% of the IPO was reserved for, saw bids that were 9.4 times the total number of shares on offer. However, ahead of its listing, Groww's Grey Market Premium (GMP) fell to around ₹6 from ₹17 earlier. However, these GMP reports are speculative in nature and the listing price could differ from these figures. Watch this space for all the Live updates.