Meanwhile, the equity benchmark Sensex and Nifty were trading flat with a negative bias. The…
Groww’s ₹6,600cr IPO set to dominate market buzz next week
What’s the story
The Indian stock market is gearing up for a busy week of initial public offerings (IPOs), led by the highly anticipated Groww IPO.
Billionbrains Garage Ventures, the parent company of Groww, will launch its ₹6,632 crore IPO on November 4 and close on Friday, November 7.
The offering will comprise a fresh issue worth ₹1,060 crore and an offer for sale (OFS) by early investors such as Peak XV Partners and Tiger Global.
Price band and issue details
The price band for Groww’s IPO has been fixed at ₹95-100 per share, with the issue to be listed on both BSE and NSE.
Kotak Mahindra Capital will manage the offering.
The company plans to use the proceeds from this IPO for software, servers, technology investments in its subsidiary Groww Creditserv Technology Private Limited (an NBFC), and an inorganic growth strategy, among other “unidentified acquisitions.”
Other upcoming SME IPOs
While all eyes are on Groww, the SME segment is also witnessing some action.
Curis Lifesciences will launch its IPO on November 7 and close on November 11, with a price band of ₹120-128 per share. The issue size is ₹27.52 crore and will be listed on the NSE SME platform.
Finbud Financial Services will open its IPO on November 6 and close on November 10, while Shreeji Global FMCG will open on November 4 and close on November 7.
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