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Groww IPO: Billionbrains Garage Ventures, the parent firm of popular stockbroking platform Groww, made a strong market debut on November 12. The stock opened at Rs 114 apiece on the BSE — a 14% gain over its issue price of Rs 100. On the NSE, it listed at Rs 112 per share, which was a 12% premium. At listing, the company’s market capitalisation stood at ₹69,144 crore.
The debut outperformed grey market projections. Prior to listing, unlisted shares of the company were trading at a 5% premium over the IPO price, as per Investorgain. This was, however, a sharp drop from the nearly 17% premium recorded before the IPO opened for public subscription.
The Rs 6,632-crore initial public offering of Billionbrains Garage Ventures (Groww) saw robust participation, being subscribed nearly 18 times during the bidding window from November 4 to November 7.
The issue, priced between Rs 95 and Rs 100 per share, comprised a fresh issue of shares worth Rs 1,060 crore and an offer-for-sale (OFS) of 55.72 crore shares valued at Rs 5,572.30 crore by existing shareholders.
Investors could apply for a minimum of 150 shares, amounting to an investment of about Rs 15,000 at the top end of the price band.
Backed by marquee investors such as Peak XV Partners, YC Holdings, Tiger Global Management, and Sequoia Capital, Groww has built a large retail investor base in India’s fast-growing online investing segment.
