Groww IPO Day 3 GMP: Canara Bank Securities Sees Strong Listing Gains and Long-Term Upside
The highly anticipated Groww IPO has entered its third and final day of subscription with robust demand from investors across retail, institutional, and high-net-worth categories. According to the latest reports, the Groww IPO continues to generate excitement, backed by strong grey market activity, solid fundamentals, and positive analyst sentiment.
Experts at Canara Bank Securities have projected strong listing gains for Groww, with a promising long-term upside potential supported by the company’s expanding digital investment platform, growing user base, and improving profitability metrics.
Groww IPO Attracts Massive Investor Attention on Day 3
On Day 3, the Groww IPO saw overwhelming participation, with total subscriptions crossing impressive figures by midday. The retail investor segment remained particularly strong, reflecting the brand’s deep penetration among India’s new-age investors and tech-savvy millennials.
As of the latest update, the IPO was subscribed to multiple times across all investor categories. Analysts note that the enthusiasm mirrors the broader optimism surrounding India’s fintech and online brokerage sector, which has seen rapid adoption in recent years.
Why is the Groww IPO generating such high demand?
Groww is seen as a market leader in the digital investment space, offering simplicity, strong branding, and a scalable business model that appeals to both beginners and experienced investors.
Groww IPO Price Band and Key Details
The price band for the Groww IPO has been fixed at ₹660 to ₹700 per share, with a lot size of 21 shares. The issue size stands at approximately ₹3,000 crore, comprising a fresh issue of shares and an offer-for-sale (OFS) by existing shareholders.
Industry analysts report that the proceeds from the IPO will primarily be used to expand Groww’s technology infrastructure, strengthen its research and advisory capabilities, and enhance working capital to support new financial products and services.
Subscription Status on Final Day
As per Financial Express, the Groww IPO was subscribed to more than 25 times overall by afternoon on Day 3.
- The retail portion saw oversubscription exceeding 12 times.
- The qualified institutional buyers (QIB) category led with nearly 40 times the subscription.
- The non-institutional investors (NII) portion also recorded strong interest, showing more than 30 times the subscription.
This overwhelming demand indicates strong investor confidence in the company’s growth story and valuation metrics.
Groww IPO GMP (Grey Market Premium) on Day 3
The Groww IPO GMP (Grey Market Premium) has remained steady, signaling a strong listing sentiment. According to data shared by Moneycontrol, the GMP was hovering between ₹180 and ₹200 per share on Day 3, suggesting an estimated listing price of around ₹880 to ₹900, representing 25–30% premium over the upper price band.
Analysts tracking the market say that the consistent GMP indicates high demand and strong investor confidence even in volatile market conditions.
Is the GMP a reliable indicator of listing performance?
While not always precise, a steady or rising GMP often reflects strong investor sentiment and expectations of a premium debut.
Canara Bank Securities’ Positive Outlook on Groww IPO
Analysts from Canara Bank Securities have given a “Subscribe for Listing Gains and Long-Term” rating to the Groww IPO, citing the company’s innovative business model, robust financials, and growth potential in India’s underpenetrated investment market.
According to their report, Groww’s focus on democratizing investment access through a simple and intuitive digital interface gives it a unique edge over traditional brokers.
Key Strengths Highlighted by Analysts
- Strong brand equity: Groww has emerged as one of India’s most trusted investment platforms, serving over 8 million users.
- Revenue growth: The company’s revenue has grown at a CAGR of more than 80% over the last three fiscal years.
- Technology-driven scalability: Automation, AI-based insights, and low-cost operations have helped Groww scale efficiently.
- Diversification plans: Expansion into mutual funds, futures and options, and insurance distribution broadens revenue sources.
Analysts also note that the integration of financial literacy tools and simplified onboarding processes gives Groww a sustainable long-term advantage.
Financial Performance and Valuation Insights
According to the Economic Times report, Groww’s consolidated revenue for FY24 crossed ₹1,000 crore, with improving EBITDA margins and decreasing cash burn.
The company has transitioned from being a startup to a profitable fintech in a short time, showcasing operational efficiency and cost discipline. Its post-IPO valuation is estimated at around ₹35,000 crore, making it one of the most valuable fintechs in India after Paytm and Zerodha.
How Groww Compares with Peers
- Groww: Valuation around ₹35,000 crore, over 8 million users, and already profitable.
- Zerodha: Valuation near ₹70,000 crore, more than 10 million users, and highly profitable.
- Angel One: Valuation around ₹30,000 crore, over 5 million users, and profitable.
- Paytm Money: Valuation close to ₹10,000 crore, about 4 million users, and currently loss-making.
This breakdown highlights Groww’s strong standing among India’s top digital brokers, showing that it has plenty of room to expand further, especially in Tier 2 and Tier 3 cities.
Long-Term Prospects and Market Potential
India’s equity participation rate is still under 10%, compared to 50–60% in developed markets. This gap offers massive potential for platforms like Groww to capture new investors as financial literacy spreads and digital adoption rises.
Experts believe the company’s simplified app interface and educational content will continue to attract first-time investors, making it a long-term winner in the fintech space.
Is Groww focusing only on equity trading?
No, the company is diversifying into mutual funds, derivatives, smallcase-style investments, and soon, fixed-income products.
Risk Factors and Cautionary Points
While the Groww IPO looks promising, experts advise investors to consider a few risks before investing:
- Market volatility could impact short-term listing gains.
- Increased competition from brokers like Zerodha and Angel One may affect margins.
- Regulatory changes by SEBI could influence compliance costs.
However, analysts at Canara Bank Securities believe that these risks are manageable, and the company’s long-term fundamentals remain intact.
What Analysts and Investors Are Saying Online
Investor discussions on X show growing optimism about the listing.
One user wrote, “Groww is the Zerodha of the next generation. Simplicity and tech will keep it ahead.”
Another investor tweeted, “GMP looks stable even after three days, that’s a good sign for listing day.”
Several YouTube finance channels also released analysis videos discussing the IPO’s fair value and expected listing price. Watching such breakdowns can help retail investors make informed decisions.
Final Verdict: Should You Invest in the Groww IPO?
With solid subscription numbers, a stable grey market premium, and positive institutional backing, the Groww IPO appears to be a strong candidate for both listing gains and long-term growth.
Its focus on simplicity, education, and technology has helped it connect with India’s growing retail investor base. Combined with the confidence shown by Canara Bank Securities and other leading analysts, the outlook remains bullish.
For investors seeking exposure to India’s booming fintech and wealth management sector, the Groww IPO offers a compelling opportunity with the potential to deliver sustainable returns.
Conclusion: Groww IPO Reflects India’s Fintech Evolution
The Groww IPO Day 3 results underline how India’s fintech landscape has matured. Once a startup, Groww now represents a profitable, scalable, and trusted brand that has redefined investing for millions.
With strong fundamentals, healthy market sentiment, and growing investor trust, the company’s debut on the stock market could be another milestone for India’s digital economy.
Investors who believe in the future of tech-driven finance may find Groww a smart addition to their long-term portfolio, a modern success story built on trust, technology, and transparency.
Disclaimer
The content shared by Meyka AI PTY LTD is solely for research and informational purposes. Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.
