Post by : Bianca
Haleem
Today, Monday, November 10, marks the announcement of the Groww IPO allotment, a significant event for investors who participated in the offering earlier this week. The IPO, which ran from November 4 to November 7, was met with overwhelming enthusiasm, attracting 17.6 times subscriptions by the third day.
Investors can verify their allotment status via the official registrar, MUFG Intime India Private Ltd, by using their Application Number, Demat Account, or PAN. The process is user-friendly, with clear guidance provided on the registrar’s portal. Refunds for those not allotted shares will commence on Tuesday, November 10, while shares that are allotted will be credited to demat accounts that same day.
The current Grey Market Premium (GMP) for the Groww IPO sits at ₹4, a decrease from its peak of ₹16.70 in previous sessions. Given the IPO price band set at ₹100, shares are anticipated to debut around ₹104, which indicates a modest 4% increase over the issue price. Market analysts observe that the declining GMP trend over the past two weeks suggests a cautious sentiment among short-term investors.
With the stock's listing set for Wednesday, November 12, all eyes are now focused on the market debut of the shares. The strong subscription rates together with recent grey market activity show stable investor interest, although the diminishing premium indicates a measured outlook for the opening trading session.
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