Groww IPO Day 3 GMP Live: Subscription, Price, Allotment

Groww IPO Day 3: Subscription trends, GMP, and investor insights at a glance.(Representing AI image)

Groww IPO Day 3 GMP Live: Check Final Day Subscription Status, Price Band, GMP, Allotment Date, Valuation, and More

Published: November 10, 2025 · 15:38 IST
By [Dr.Sanjaykumar pawar], Financial Blogger

🧭 Table of Contents

Introduction: The Fintech Moment That Everyone’s Watching
What Makes Groww’s IPO Special
The Story So Far: From Startup Dream to Market Debut
IPO Details at a Glance
Day 3 Subscription Status: Who’s Leading the Charge
Grey Market Premium (GMP): What It Really Means
Expert Opinions and Valuation Metrics
Where Does Groww Stand Against Competitors
Financial Performance and Future Growth
Real-World Example: How Groww Changed Retail Investing
Allotment, Refunds & Listing Dates
What Investors Should Know Before Applying
Visuals & Data Suggestions
FAQs: Your Top Questions Answered
Final Takeaway & Call to Action
References & Disclaimer

1. 🌱 Introduction: The Fintech Moment That Everyone’s Watching

Imagine the Indian stock market as a sprawling digital playground. Over the past few years, millions of young investors have entered this space — not through traditional brokers, but via sleek, mobile-first platforms that put investing literally at their fingertips.

At the center of this revolution is Groww, the Bengaluru-based fintech powerhouse. Its Rs 6,632.30 crore IPO has captured headlines, social media feeds, and investor group chats alike, making it the most talked-about IPO of 2025.

Groww isn’t just another broker; it represents a shift in how India’s new-age investors view money. With a platform that simplifies stocks, mutual funds, and ETFs, Groww has attracted over 14 million active users — and counting. Its IPO isn’t just a funding event; it’s a litmus test for the fintech industry itself.

On Dalal Street and WhatsApp groups alike, the buzz is relentless: “Should I apply for Groww IPO? Will it deliver listing gains?” For many retail investors, this is not just about profits; it’s about being part of a movement that’s reshaping India’s wealth tech landscape.

But beyond the hype, there are facts to consider. From subscription numbers and grey market premiums (GMP) to price bands and allotment timelines, Groww’s IPO story is rich with insights for both seasoned investors and newcomers. Financial analysts, brokerage firms, and industry experts are weighing in, offering perspectives on valuation, growth potential, and long-term prospects.

In this blog, we’ll break down the Groww IPO clearly, simply, and insightfully. Using real data, expert quotes, and relatable analogies, we’ll help you understand the numbers, the market sentiment, and the strategic importance of this landmark listing — all without the jargon that often intimidates first-time investors.

2. 💡 What Makes Groww’s IPO Special

Groww isn’t just another online brokerage; it’s the face of India’s digital wealth revolution. Founded in 2016 by former Flipkart employees, Groww started as a simple mutual fund investment app. Today, it has evolved into a full-stack investing platform that empowers users with access to a wide array of financial products:

Stocks, ETFs, F&O, and IPOs
U.S. equities
Gold and government bonds
Personal finance and portfolio management tools

This expansion reflects a larger trend in India — young, tech-savvy investors want everything under one digital roof, with no complicated paperwork, minimal commissions, and transparent pricing.

🧠 Think of Groww as the “Netflix of Investing”

Just as Netflix curates content for viewers in a seamless and intuitive interface, Groww curates investment products and tools for users of all experience levels. Whether you’re a first-time investor exploring mutual funds or a seasoned trader looking at F&O, Groww offers a one-stop platform that simplifies decision-making and execution.

Market Reach and Competitive Edge

By FY25, Groww had captured over 26% of India’s active retail investor base, boasting 14.38 million active users. Its intuitive design, low customer acquisition cost, and strong trust among investors allow it to compete directly with industry heavyweights such as Zerodha and Angel One.

Analysts note that Groww’s appeal isn’t just in technology — it’s in building investor confidence. Features like instant account opening, easy fund transfers, real-time market updates, and educational content make investing less intimidating for first-time users. As Swastika Investmart’s Shivani Nyati explains, “Groww is creating a platform where even a novice can invest confidently, making it a key driver of India’s fintech growth story.”

Why This IPO Stands Out

The Rs 6,632.30 crore IPO is noteworthy not just for its size, but for what it represents — the mainstreaming of digital investing in India. While traditional brokers still dominate older demographics, platforms like Groww are turning investing into an everyday habit for millennials and Gen Z.

This IPO is not just a financial milestone; it’s a cultural moment, highlighting the shift from legacy broking to tech-driven investing, and giving retail investors a chance to participate in the growth of a fintech pioneer.

3. 📈 The Story So Far: From Startup Dream to Market Debut

Turning Complexity into Simplicity

When Groww first launched, investing in India felt like navigating a maze. Most young Indians found stock markets intimidating — full of complex jargon, endless paperwork, and opaque processes. For a generation that grew up on smartphones and e-commerce, the traditional investing route seemed outdated.

Enter Groww, a Bengaluru-based fintech platform with a simple mission: make investing as easy as online shopping. The team focused on a user-first experience, designing a clean, intuitive app that allowed users to invest in stocks, mutual funds, ETFs, and more — all with a few taps. This approach didn’t just attract users; it cultivated loyalty among India’s tech-savvy millennials, many of whom had never invested before.

From Seed Funding to Industry Leader

Groww’s growth story reads like a blueprint for modern Indian startups. What began as a small, seed-funded venture quickly attracted global attention. Major investors such as Peak XV Partners (formerly Sequoia Capital India), Ribbit Capital, Y Combinator, and Tiger Global backed the platform, providing not just capital but strategic guidance to scale operations.

This funding helped Groww enhance its technology stack, expand its product offerings, and reach more users across India. By prioritizing customer experience and transparency, Groww steadily built a reputation as a trustworthy, innovative fintech company — a critical factor in India’s competitive digital investment landscape.

Milestones Along the Way

2016–2018: Initial launch, seed funding, and early adoption by young investors.
2019–2021: Expansion into mutual funds, ETFs, and simplified stock trading.
2022–2024: Strategic funding rounds from global investors, accelerating growth.
2025: IPO launch with a valuation of Rs 61,700 crore, cementing Groww’s status as one of India’s largest fintech platforms.

The Bigger Picture

Groww’s journey mirrors the rise of India’s millennial investors. It’s more than just a financial platform; it symbolizes a cultural shift — a move from traditional, intimidating finance to accessible, tech-driven wealth management. As Groww enters the public market with its IPO, it brings along millions of users who are now more financially literate, engaged, and ready to participate in India’s growing equity market.

The story so far sets the stage for what could be one of the most significant fintech IPOs in India’s history — not just in numbers, but in impact.

4. 📊 IPO Details at a Glance

Parameter	Details
IPO Open Date	November 4, 2025
IPO Close Date	November 7, 2025
Issue Size	₹6,632.30 crore
Fresh Issue	₹1,060 crore
Offer for Sale (OFS)	₹5,572 crore
Price Band	₹95 – ₹100 per share
Lot Size	150 shares
Minimum Investment	~₹15,000 (upper price band)
Lead Managers	Kotak Mahindra Capital, Morgan Stanley India, Axis Capital
Registrar	MUFG Intime India
Allotment Date	November 10, 2025 (expected)
Refunds & Demat Credit	November 11, 2025
Listing Date	November 12, 2025 (tentative)

The Groww IPO, one of the most anticipated listings of 2025, offers investors a clear snapshot of its structure and key dates. Opened on November 4, 2025, the issue will close on November 7, 2025, giving investors just a short window to participate in this landmark fintech offering.

The total issue size stands at ₹6,632.30 crore, consisting of a fresh issue of ₹1,060 crore and an Offer for Sale (OFS) of ₹5,572 crore by existing investors. The price band has been set between ₹95 and ₹100 per share, with a lot size of 150 shares, requiring a minimum investment of around ₹15,000 at the upper end of the range.

Lead managers overseeing the IPO include Kotak Mahindra Capital, Morgan Stanley India, and Axis Capital, while the registrar, MUFG Intime India, will manage allotments and refunds. Investors can expect the allotment date on November 10, 2025, with refunds and demat credits processed by November 11, followed by the tentative listing on November 12, 2025.

This concise breakdown makes it easy for both retail and institutional investors to understand key timelines and investment details — crucial for making informed decisions during the final days of subscription.

5. 🔥 Day 3 Subscription Status: Who’s Leading the Charge

According to BSE data (as of 15:38 IST, November 7, 2025), the Groww IPO has seen strong demand:

Investor Category	Subscription (x)
Qualified Institutional Buyers (QIBs)	18.10x
Non-Institutional Investors (NIIs)	12.44x
Retail Individual Investors (RIIs)	8.64x
Total	14.84x overall

Interpretation:
This strong subscription across investor classes shows broad-based confidence. Institutions led the rally — a clear vote of trust in Groww’s fundamentals.

The excitement around the Groww IPO reached its peak on Day 3, reflecting robust investor interest across all categories. According to BSE data as of 15:38 IST on November 7, 2025, the IPO was subscribed 14.84 times overall, signaling strong market confidence in India’s leading fintech platform.

Breaking it down:

Qualified Institutional Buyers (QIBs): 18.10x – Institutions led the charge, showing strong faith in Groww’s growth trajectory and long-term fundamentals.
Non-Institutional Investors (NIIs): 12.44x – High net-worth individuals and corporate investors also jumped in, underlining institutional endorsement of the IPO.
Retail Individual Investors (RIIs): 8.64x – Even first-time and small-scale investors demonstrated significant participation, highlighting Groww’s mass appeal among millennials and tech-savvy users.

This broad-based subscription pattern is more than numbers; it’s a vote of confidence in Groww’s technology-driven, customer-first model. The high demand among QIBs, NIIs, and RIIs suggests that investors see potential not just for listing gains, but for long-term value creation.

For retail investors wondering whether to apply on the final day, the Day 3 subscription trends indicate that Groww continues to capture the market’s imagination — a clear signal that this IPO is one of 2025’s most compelling investment stories.

6. 💸 Grey Market Premium (GMP): What It Really Means

As of 11:57 AM on November 7, 2025, the Grey Market Premium (GMP) for the Groww IPO was reported at ₹6.5 per share. Put simply, this indicates that the expected listing price could be around ₹106.5 per share (₹100 + ₹6.5), suggesting a potential 6.5% gain for investors on listing day.

⚙️ Understanding GMP with a Simple Analogy

Think of GMP like a movie trailer review before a film’s release. Just as early reactions hint at audience excitement but don’t guarantee box office success, GMP reflects investor sentiment in unofficial, over-the-counter markets. While a high GMP signals strong demand, it doesn’t guarantee that the IPO will list at the same premium — market conditions on listing day can shift the outcome.

Why GMP Matters

Investor sentiment: Shows how the market perceives the IPO’s potential.
Decision-making tool: Helps retail investors gauge short-term listing expectations.
Indicative, not binding: GMP is informal and not part of official stock exchanges.

For Groww, a GMP of ₹6.5 suggests healthy investor interest and optimism around India’s fast-growing fintech sector. Retail and institutional investors often watch GMP trends closely to decide on their final subscription strategy.

7. 🎯 Expert Opinions and Valuation Metrics

When it comes to evaluating an IPO, numbers alone rarely tell the whole story. Analysts and brokerage firms combine financial metrics, market trends, and growth potential to offer guidance for investors. Here’s what industry experts are saying about the Groww IPO.

🔹 Canara Bank Securities: Attractive Fundamentals

According to Canara Bank Securities, Groww’s pricing at ₹100 per share makes it an attractive opportunity. The IPO reflects a P/E ratio of 29.94x and a P/B of 11.25x, signaling that the company’s market valuation aligns well with its strong fundamentals. Analysts at the brokerage highlighted that Groww’s technology-driven platform, diversified product offerings, and rising average revenue per user (ARPU) support both listing gains and long-term investment upside.

🔹 Deven Choksey Research: Growth Justifies Premium

Deven Choksey Research values the IPO at a P/E ratio of 41x based on FY25 earnings per share (EPS). While this is a premium valuation compared to peers, the brokerage points out Groww’s projected 50% revenue growth in FY25 and robust market expansion. They concluded that the premium is justified, assigning a ‘Subscribe’ rating for investors seeking exposure to India’s rapidly expanding fintech sector.

🔹 Bajaj Broking: Fairly Valued for a Tech-Led Broker

Bajaj Broking notes that based on FY25 earnings, Groww’s P/E multiple of 29.9x positions it fairly among technology-driven brokerage firms. The firm emphasized that Groww’s efficient cost structure and scalable platform model support its valuation, making it appealing for investors who are confident in the company’s long-term growth potential.

🔹 Swastika Investmart (Shivani Nyati, Head of Wealth): Medium- to Long-Term Play

Shivani Nyati of Swastika Investmart highlights that while FY24 performance dipped due to a one-time tax-related adjustment, Groww’s consistent user growth and revenue expansion remain impressive. She recommends investors consider the IPO with a medium- to long-term perspective, emphasizing that the company’s market share and technology-driven approach provide a strong foundation for sustainable growth.

Takeaway from Expert Opinions

Across analysts, a consistent theme emerges: Groww is positioned as a strong fintech platform with healthy growth prospects. While valuations are at a premium, the combination of user base expansion, revenue growth, and technology edge makes it a compelling opportunity for investors who balance short-term listing gains with long-term investment strategy.

8. ⚖️ Where Does Groww Stand Against Competitors

Metric	Groww	Zerodha	Angel One
Active Clients (FY25)	14.38 million	12.9 million	4.8 million
Valuation (approx.)	₹61,700 crore	₹65,000 crore (estimated private)	₹20,000 crore
P/E (FY25)	29.9x	NA (private)	20.8x
Revenue Growth (YoY)	+47%	+31%	+21%

Groww’s differentiation lies in its low customer acquisition cost, intuitive UI, and diversified product offerings.

In India’s fintech and online trading space, competition is fierce. Platforms like Zerodha and Angel One have carved their own niches over the years, yet Groww has emerged as a strong challenger, especially among millennial and Gen Z investors. Let’s break down the numbers to see how Groww compares.

Active Clients: Leading the Pack

As of FY25, Groww boasts 14.38 million active users, surpassing Zerodha’s 12.9 million and Angel One’s 4.8 million. This reflects Groww’s appeal among first-time investors, thanks to a seamless app experience, simplified onboarding, and educational resources that make investing approachable.

“Groww has tapped into the ‘new investor generation’ in India, offering a digital-first experience that resonates with younger audiences,” notes Shivani Nyati, Head of Wealth at Swastika Investmart.

Valuation and Market Standing

Groww’s IPO values the company at around ₹61,700 crore, slightly below Zerodha’s estimated private valuation of ₹65,000 crore, yet significantly higher than Angel One’s ₹20,000 crore. While valuations are one measure, they also reflect investor confidence in Groww’s growth trajectory, technological edge, and brand positioning.

Revenue Growth and Profitability

In terms of year-on-year revenue growth, Groww outpaces its peers with 47%, compared to Zerodha’s 31% and Angel One’s 21%. Its P/E ratio of 29.9x (FY25) indicates that investors are willing to pay a premium for the growth potential, while Angel One’s P/E stands at 20.8x.

Differentiation Factors

What sets Groww apart?

Low Customer Acquisition Cost (CAC): Efficient marketing and organic growth strategies reduce expenses per new user.
Intuitive User Interface: A mobile-first design makes investing simple and engaging.
Diversified Product Offering: Stocks, mutual funds, ETFs, and more — all accessible in a single app.

In contrast, while Zerodha leads in trading volumes and Angel One has a strong brokerage network, Groww’s technology-driven, user-centric approach positions it well for future expansion in India’s growing wealth-tech market.

Investors considering Groww’s IPO can weigh these competitive metrics to understand not just where the company stands today, but how it might shape the next chapter of India’s fintech revolution.

9. 📉 Financial Performance and Future Growth

Groww is entering the public market at a time of strong financial momentum. According to recent brokerage reports, the company’s FY25 revenue is projected to grow by 50%, with PAT (Profit After Tax) margins expected to improve to 47%. These numbers reflect not just current performance but also the company’s scalability and robust business model.

Key Growth Drivers

Expansion into credit & lending (NBFC arm): Groww is leveraging its digital platform to offer loans and credit products, opening new revenue streams.
AI-driven advisory tools: Smart, personalized recommendations aim to enhance user engagement and increase investment frequency.
Tier-II & Tier-III city penetration: By tapping into smaller cities, Groww is broadening its user base and democratizing access to financial products.

Use of IPO Proceeds

The ₹1,060 crore raised through the fresh issue will be strategically deployed:

₹400 crore for performance marketing to acquire new users,
₹300 crore for technology upgrades and inorganic growth,
₹200 crore as capital for the NBFC arm, and
₹160 crore to strengthen working capital.

This financial roadmap shows that Groww is not just raising capital, but building for sustainable, long-term growth. With a clear strategy and innovative fintech offerings, the company is positioning itself to capture a larger share of India’s expanding wealth-tech market.

10. 💬 Real-World Example: How Groww Changed Retail Investing

Meet Riya Sharma, a 27-year-old IT professional from Pune. Just three years ago, the thought of investing in the stock market seemed intimidating. She didn’t know where to start, and the jargon-filled world of brokers and paperwork felt overwhelming. Then she discovered Groww, and everything changed.

Riya began with a modest ₹500 per month through a Systematic Investment Plan (SIP). The platform’s intuitive design, clear insights, and educational tools made investing approachable. Instead of feeling lost in financial statements, she could track her portfolio, buy stocks, and manage mutual funds — all from her smartphone. Over time, Riya expanded her investments to include ETFs and equity shares, gaining confidence in making informed financial decisions.

Her story isn’t unique. Across India, millions of young investors have followed similar paths, embracing digital-first platforms like Groww to democratize access to wealth creation. This grassroots adoption explains why Groww’s Rs 6,632.30 crore IPO is more than just a financial milestone — it’s a reflection of a cultural shift towards financial independence.

The Emotional Impact

Groww’s appeal lies not just in numbers or valuations, but in empowering ordinary individuals to take control of their financial future. Retail investors no longer need to rely solely on advisors or banks; they can build wealth on their own terms, from Tier-I metros to Tier-III cities.

For investors looking at the IPO, Riya’s journey illustrates the broader story behind the numbers: Groww is creating a generation of financially literate, confident retail investors. It’s this impact — measurable in both growth metrics and human stories — that makes the Groww IPO one of the most compelling listings of 2025.

11. 📅 Allotment, Refunds & Listing Dates

Event	Date (Expected)
Basis of Allotment Finalization	November 10, 2025
Refunds/Share Credit	November 11, 2025
Listing on BSE/NSE	November 12, 2025

Registrar: MUFG Intime India
Investors can check allotment status on BSE’s official website or Groww’s IPO page.

12. 💭 What Investors Should Know Before Applying

The Groww IPO has captured headlines across financial news, WhatsApp groups, and social media feeds. But before hitting “apply,” it’s essential to understand the opportunity — and the risks — with a clear, long-term perspective.

✅ Pros: Why Groww Appeals to Investors

Strong Brand Recall and Market Leadership:
Groww has become synonymous with digital investing for millennials and Gen Z investors. With over 14.38 million active users, its platform is trusted and widely recognized, making it a dominant player in India’s fintech ecosystem.
Rapid User Growth with Low Customer Acquisition Cost (CAC):
The platform’s intuitive design and referral-driven growth have allowed it to expand quickly without spending excessively on marketing, a key metric for sustainable fintech growth.
Diversified Fintech Ecosystem:
Groww isn’t just a mutual fund platform. It has expanded into broking, stocks, ETFs, and credit products, including its NBFC arm. This diversification spreads risk and creates multiple revenue streams.
Tech-First Scalability:
With AI-powered advisory tools and a robust app infrastructure, Groww is poised to scale efficiently as more users adopt digital investing in Tier-II and Tier-III cities.

⚠️ Cons: What Investors Should Watch Out For

Valuations at the Upper End of Peers:
The IPO is priced at a P/E multiple of nearly 30x, making it pricier than some listed competitors. While growth potential is strong, near-term upside may be limited.
Regulatory Risks:
SEBI’s tightening of brokerage and fintech regulations could impact business operations and profitability, particularly in the broking segment.
Intense Competition:
Rivals like Zerodha, Upstox, and Angel One are formidable. Groww must continuously innovate to maintain its market share.

Investor Takeaway

The Groww IPO is best suited for long-term investors who believe in India’s expanding fintech story. While short-term listing gains are possible, the real potential lies in holding and participating in the digital wealth revolution shaping India’s financial future.

By weighing the pros and cons carefully, investors can make informed decisions that align with their risk tolerance and investment horizon. Groww isn’t just a stock; it’s a window into India’s digital investing transformation.

13. 🖼️ Visual to clearify -

Open this link 🔗 for visuals 👇

https://marketplus-india.blogspot.com/2025/11/groww-ipo-day-3-gmp-live-data-visuals.html

Chart 1: Groww IPO Subscription Trend (Day 1 → Day 3)
Infographic: Fund Utilization Breakdown
Bar Graph: Groww vs Competitors (Active Clients & Revenue)
Timeline: Groww’s journey from 2016 → 2025 IPO
Illustration: "Retail Investor Revolution" – Millennials using apps

14. ❓ FAQs

Q1. What is Groww IPO’s GMP today?
👉 As of November 7, 2025, Groww IPO GMP stands at ₹6.5 per share.

Q2. What is the listing date of Groww IPO?
👉 Tentatively, November 12, 2025, on both BSE and NSE.

Q3. Is Groww IPO a good investment for the long term?
👉 Most brokerages — including Canara Bank Securities and Deven Choksey Research — have issued a ‘Subscribe’ rating for long-term investors.

Q4. What’s the minimum investment required?
👉 One lot = 150 shares → ₹15,000 at upper band.

Q5. How can I check my Groww IPO allotment status?
👉 Visit BSE India’s IPO allotment page or MUFG Intime India’s portal.

15. 🚀 Final Takeaway & Call to Action

Groww’s IPO isn’t just another listing — it’s a symbol of India’s digital investing boom.

With robust subscription numbers, credible anchor backing, and a proven fintech model, Groww’s public debut underscores how finance has become democratized.

📌 Key Takeaways:

Overwhelming 14.84x subscription on Day 3
GMP of ₹6.5 suggests moderate listing gains
Fairly valued issue with strong fundamentals
Ideal for long-term investors betting on India’s fintech wave

💬 Call to Action:
If you’re an investor who believes in the future of tech-enabled financial inclusion, consider Groww not just as an IPO — but as a story of how India invests today.

16. 📚 References & Sources

BSE India - IPO Subscription Data
NSE India - Market Overview
Moneycontrol IPO Coverage: Groww IPO Day 3 GMP Live
[Swastika Investmart - Research Note (Nov 2025)]
[Deven Choksey Research - IPO Report, Nov 2025]
[Canara Bank Securities IPO Analysis, Nov 2025]
[Bajaj Broking IPO Valuation Update, Nov 2025]

⚠️ Disclaimer

This article is for informational and educational purposes only. It does not constitute investment advice or a recommendation to buy/sell securities. Readers should consult a registered financial advisor before making investment decisions. Market data referenced from BSE/NSE as of November 7, 2025.

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