Groww-Parent Billionbrains Garage Ventures Shares Surge 22% As Stock Debuts At Premium Over IPO Price
Groww's shares debuted at Rs 114 on the BSE, and Rs 112 on the NSE.
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.
On the National Stock Exchange, the stock listed at Rs 112 apiece, a premium of 12%. Shares of the company rose 22% within half an hour of the stock's debut, trading at Rs 122.01 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.
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.
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.
Kotak Mahindra Capital Ltd. is the book running lead manager and MUFG Intime India Pvt. is the registrar of the issue. The bankers handling the offer include JPMorgan, Kotak Mahindra Capital, Citigroup, Axis Capital, and Motilal Oswal.
Groww is a direct-to-customer digital investment platform that enables users to invest through a range of financial products and services. The RHP document states that Groww is India's largest and fastest-growing investment platform by active users on the NSE as of 30 June 2025.
Groww's parent company saw its top line grow by around 30% in fiscal 2025 while making a profit of Rs 1,819 crore, according to a valuation report reviewed by NDTV Profit.
The company counts the likes of Zerodha and Angel One Ltd. among its industry rivals. A growing top line has been observed consistently across the broking industry as more retail investors take to the country's capital markets.
