Groww IPO Allotment Finalized: Key Details Investors Need to Know
The much-anticipated Groww IPO share allotment process reached its conclusion today, Monday, November 10, bringing clarity to thousands of investors who participated in the public offering. The financial technology platform's initial public offering has been generating significant market interest since its subscription period began.
Subscription Response and Grey Market Trends
Market data reveals that the Groww IPO received overwhelming investor response, with the subscription rate reaching 17.60 times on the final day of bidding. The subscription window remained open from Tuesday, November 4, through Friday, November 7, allowing investors ample opportunity to participate in this financial event.
However, grey market premium indicators show a concerning trend for potential listing gains. The current GMP stands at ₹4 per share, significantly lower than the maximum observed premium of ₹16.70 during the past thirteen trading sessions. Market experts monitoring the grey market activities confirm that the premium is not only trending downward today but is expected to decrease further in coming sessions.
Listing Price Projections and Timeline
Based on the upper price band of ₹100 and the current grey market premium, analysts project the estimated listing price at approximately ₹104 per share, representing a modest 4% increase over the IPO price. While this indicates positive territory for allottees, the diminishing GMP suggests reduced enthusiasm compared to initial market expectations.
The company has outlined a clear timeline for the post-allotment process. Tuesday, November 11 marks two critical events: the initiation of refunds for unsuccessful applicants and the crediting of allocated shares to successful investors' demat accounts. The official stock exchange listing is scheduled for Wednesday, November 12, when trading will commence on the bourses.
How to Check Your Allotment Status
Investors who applied for the Groww IPO can verify their allotment status through multiple channels. The primary method involves visiting the official registrar portal, MUFG Intime India Private Limited, formerly known as Link Intime India Private Limited. The registrar has established a streamlined process for status checks using application numbers, demat account details, or PAN information.
Additionally, both major stock exchanges – BSE and NSE – provide platforms for investors to check their allotment status. The process involves selecting the appropriate IPO from dropdown menus, choosing verification methods, and submitting the required security captcha. Successful applicants will see the number of shares allocated to them, while unsuccessful applicants will need to wait for the refund process to initiate.
Financial advisors recommend that investors keep their application details handy and complete the verification process during non-peak hours to avoid website congestion. The high subscription numbers indicate significant traffic on registrar and exchange portals, so patience may be required during the status check process.
