Billionbrains Garage Ventures Ltd., the parent company of investment platform Groww, made a stellar debut on the Indian stock exchanges on Wednesday, with its shares soaring as much as 31% above the issue price of Rs 100 by market close.
The stock closed at Rs 130.94 on the BSE and Rs 128.85 on the NSE, valuing the company at about Rs 80,837 crore.
Groww’s shares opened at Rs 112 on the NSE and Rs 114 on the BSE, representing 12% and 14% premiums, respectively, over the upper end of the IPO price band. The stock gained steadily through the trading session on its debut day.
Groww’s Rs 6,632 crore IPO was subscribed 17.6 times, receiving robust demand from institutional and retail investors alike. Qualified institutional buyers (QIBs) led the charge, with bids exceeding their quota by more than 22 times, while the high-net-worth investor (HNI) segment saw subscription of 16.28 times. Retail investors subscribed 9.43 times, underscoring widespread interest in the Bengaluru-based fintech’s public debut.
Ahead of the listing, the company raised Rs 2,985 crore from global and domestic institutions through its anchor book at Rs 100 per share.
At Rs 100 per share, Groww’s IPO valued the company at roughly Rs 61,736 crore, positioning it among India’s most valuable publicly listed fintechs.
The share sale comprises a Rs 1,060 crore fresh issue and an offer for sale (OFS) of Rs 5,572.3 crore, giving existing investors a sizeable liquidity event.
That makes the primary issuance just 16% of the total issue size, with the remainder enabling venture backers, such as Peak XV Partners, Ribbit Capital, YC Holdings, and Alkeon Capital, to pare stakes.
Billionbrains Garage reported a nearly threefold increase in net profit to Rs 1,819 crore in FY25. In comparison, revenue soared 31% year-on-year to Rs 4,056 crore, according to a document seen by YourStory.
Founded in 2016, Tiger Global-backed Groww emerged as the market leader in stock broking in 2023. It has since retained this position, commanding more than a fourth of the market share by active clients.
Edited by Jyoti Narayan
Original Article
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