Post by : Badri Ariffin

The much-anticipated Groww IPO allotment has been revealed today, Monday, November 10, marking a significant event for investors who participated earlier this month. The IPO, which commenced on November 4 and wrapped up on November 7, received an impressive subscription rate of 17.6 times by the third day.

Investors can verify their allotment status via the official registrar, MUFG Intime India Private Ltd, by entering their Application Number, Demat Account, or PAN. The procedure is user-friendly, with the registrar's site providing clear instructions. Refunds for those not receiving shares will be initiated on Tuesday, November 10, while successful applicants will see their shares credited to their demat accounts on that same day.

Today's Grey Market Premium (GMP) for the Groww IPO is quoted at ₹4, a decline from a prior peak of ₹16.70 seen in earlier sessions. Given the IPO price band of ₹100, expected shares are projected to list around ₹104, indicating a slight 4% premium over the issue price. Analysts observe a downward trend in GMP over the last two weeks, signaling a more cautious stance among short-term investors.

With the listing set for Wednesday, November 12, investors are keenly awaiting the market debut of the stock. The strong subscription figures coupled with grey market movements suggest sustained investor engagement, although the softening premium points to a reserved perspective for initial trading.

#Global News