Groww Hits M-Cap Of Rs 1 Lakh Crore Within Week Of D-Street Listing

Groww-parent Billionbrains Garage Ventures Ltd has crossed the Rs 1 lakh crore market cap within a week of listing. After making its D-Street debut on Nov. 12, the company's m-cap reached Rs 1,07,895.95 at close on Monday.

The discount broker's shares have risen by over 74% from the upper end of its IPO price of Rs 100 per share. On Monday, the scrip settled at Rs 174.45 apiece on the National Stock Exchange, up 17.45%.

The shares had risen as much as 20% during the day to Rs 178.23 apiece on the NSE. The counter has seen gains of over 55.7% gains since its listing.

Discount stockbroker Groww-parent Billionbrains Garage Ventures Ltd. listed on the BSE, the stock debuted at Rs 114, a 14% premium over its issue price of Rs 100 apiece.

The Groww IPO was subscribed 1.85 times on the final day of bidding. The price band for the offering was fixed between Rs 95 and Rs 100 per share, with an issue size totaling Rs 6,632.3 crore. The IPO had garnered a little over Rs 2,984 crore from anchor investors on Monday, including Abu Dhabi Investment Authority and the Government of Singapore.

Billionbrains Garage Ventures, backed by Microsoft Chief Executive Officer Satya Nadella, will use funds raised in the IPO fresh issue to expand margin trading, unsecured lending, wealth management, and possibly inorganic growth, as per offer documents. The IPO is structured as a mix of a fresh issue and an offer for sale by existing shareholders.

Groww now leads the pack with over 1.7 crore active users and a 26% market share among retail investors. Most of its customers come through word-of-mouth (not paid ads), it spends less to acquire users — helping it post high margins (around 45–60%) and strong profitability.

Brokerages like Nuvama and Anand Rathi note that Groww’s users come from nearly every Indian pin code, and over 80% live outside the top six cities, showing how far its reach extends.

Since 84% of its revenue comes from stock broking, any slowdown in trading activity could hurt earnings. Like any tech firm, Groww is vulnerable to cybersecurity risks and system outages.

Nuvama calls Groww a “leader among retail brokers” and says its tech platform and user experience are key strengths. Arihant Capital recommends “Subscribe for listing gains”, saying its scalable model, high retention, and low costs make it a long-term winner. While Anand Rathi is also positive but calls it “fully priced”, advising “Subscribe – Long Term”.