The primary market is back in action as the fintech-platform parent company Billionbrains Garage Ventures Ltd launches the main event of the week — the Rs. 1,060 crore fresh-issue and Rs. 55.72 crore offer-for-sale (OFS) public offering of Groww. This places the total IPO size at about Rs. 1,115 crore. The price band has been fixed at Rs. 95 to Rs. 100 per share, with a lot size of 150 shares. The tentative allotment date is November 10 and tentative listing on November 12 on the BSE and NSE.
Alongside the Groww IPO, the SME-segment is also set to open three smaller issues this week:
- Sreeji Global FMCG Ltd will raise around Rs. 85 crore, with a price band of Rs. 120-125. Subscription opens November 4 and closes November 7; listing is tentatively scheduled for November 12.
- Finbud Financial Services Ltd will raise approximately Rs. 71.68 crore; price band is Rs. 140-142; subscription window November 6-10; listing likely November 13.
- Curis Lifesciences Ltd will raise about Rs. 27.52 crore, with a price band of Rs. 120-128; opens November 7, closes November 11; tentative listing date November 14.
While there is no other main-board IPO scheduled for this week beyond Groww, market watchers will also keep an eye on two forthcoming listings: Orkla India Ltd and Studds Accessories Ltd.
In summary, the IPO pipeline is active this week with a marquee fintech issue backed by institutional investors, complemented by a trio of SME issues. Investors looking at primary market plays will need to assess valuations carefully amid rising interest and liquidity flows.
