Groww's Promising IPO Launch Shines Light on Fintech Resilience

Groww, an online investment platform, debuted on the stock market at Rs 112 per share, a 12% increase over its issue price. The IPO, valued at Rs 6,632 crore, was heavily subscribed. Groww is a leading platform for mutual fund and stock investments, supported by major financial institutions.

Online investment platform Groww made a noteworthy entrance on the stock exchanges on Wednesday, debuting at Rs 112 per share, a 12% rise above its issue price of Rs 100. This trading debut indicates a positive start for the highly anticipated IPO, showcasing strong investor confidence in the thriving fintech sector.

The company's Rs 6,632 crore initial public offering (IPO) saw significant engagement across various investor groups, being subscribed 17.6 times on its final day. Qualified institutional buyers (QIBs) demonstrated notable interest, subscribing 22.02 times, while non-institutional and retail investor segments attracted 14.2 times and 9.4 times subscriptions, respectively.

Groww provides a comprehensive digital platform for investing in mutual funds, stocks, futures and options (F&O), exchange-traded funds (ETFs), IPOs, digital gold, and U.S. stocks. It has become a leading investment platform in India, driven by its user-friendly interface and digital innovation.

Revenue-wise, broking is the company's primary revenue generator, contributing around 85% of its total income. The remaining 15% is largely derived from interest-related earnings. The IPO was managed by Kotak Mahindra Capital Company Limited, J.P. Morgan India Private Limited, Citigroup Global Markets India Private Limited, Axis Capital Limited, and Motilal Oswal Investment Advisors Limited.

(With inputs from agencies.)