Groww IPO gets fully subscribed on Day 2

New Delhi: The initial public offering of Billionbrains Garage Ventures, the parent company of stock broking firm Groww, got fully subscribed on the second day of share sale on Thursday and ended the day with 1.64 times subscription.

The company’s IPO received bids for 59,82,34,950 shares, as against 36,47,76,528 shares on offer, translating into 1.64 times subscription, as per data available with the NSE.

Retail Individual Investors (RIIs) part received 5.02 times subscription, while the quota for non-institutional investors got subscribed 2.26 times. The category for Qualified Institutional Buyers (QIBs) fetched 20 per cent subscription.

Billionbrains Garage Ventures on Monday garnered a little over Rs 2,984 crore from anchor investors. The company’s Rs 6,632 crore IPO would conclude on Friday.

The firm has fixed a price band of Rs 95-100 per share for its IPO, targeting a valuation of over Rs 61,700 crore (about $7 billion).

The IPO has a fresh issue of equity shares worth Rs 1,060 crore along with an Offer-for-Sale (OFS) component of 55.72 crore equity shares.