Groww IPO, Nov. 7 -- The initial public offering (IPO) of Billionbrains Garage Ventures, the parent company of stockbroking firm Groww, received a healthy response from investors during its bidding period, with the issue being subscribed over 17 times by the end of Day 3. Strong demand came particularly from institutional investors.

The Groww IPO, which ran from November 4 to November 7, received bids for 641 crore shares against the 36 crore shares on offer, resulting in a subscription rate of 17.60 times.

Qualified institutional buyers showed strong interest, with their portion subscribed 22 times as they placed bids for 438 crore shares compared with the allotted 19.89 crore shares. The NII segment reflected similar enthusiasm, with ...