Groww Shares soar 46% above issue price; Market cap nears Rs 1 lakh crore

Shares of Billionbrains Garage Ventures Ltd., the parent company of India’s largest online investment platform Groww, extended their strong listing-day rally on Thursday, surging another 15 per cent to Rs 150.31 on the NSE. The stock continued to attract heavy investor interest after its impressive debut on Wednesday.

Groww IPO listing

Groww shares were listed at a 12 per cent premium over the issue price of Rs 100 per share and closed their debut session with solid gains of 30 per cent. With Thursday’s upmove, the stock is now trading 46 per cent higher than its issue price, pushing the company’s market capitalisation to nearly Rs 90,000 crore — a remarkable valuation milestone for a fintech firm that began operations less than a decade ago.

Add Zee Business as a Preferred Source

High trading volumes

Trading volumes have remained exceptionally strong since the listing. On Wednesday, more than 52.4 crore shares of the company changed hands, taking the total traded value to over Rs 6,400 crore. Of this, 44 per cent (23.04 crore shares) were marked for delivery, according to data available on the NSE, indicating long-term investor participation rather than just speculative activity.

On Thursday, the trend continued with over 20 crore shares, worth approximately Rs 2,800 crore, being traded within the first two hours of the session.
Market participants noted that both institutional and retail investors have shown strong confidence in the company’s growth potential and business model.

Groww’s three-day IPO had already indicated the strong demand for the stock. The issue was subscribed 17.6 times the total number of shares on offer. The portion reserved for institutional investors was subscribed 22 times, while non-institutional and retail categories received subscriptions of 14 times and 9 times, respectively.

Following the stellar listing, media reports highlighted that Groww’s founders collectively added about USD 500 million to their wealth after the stock’s sharp appreciation.

As of Thursday’s trade, Groww shares were up 14.4 per cent at Rs 150.31, continuing their upward momentum and keeping investor sentiment buoyant across the fintech space.