Lalit Keshre, cofounder and CEO of investment platform Groww, has entered India’s billionaire club following the company’s strong stock market debut.
The rise of the son of a farmer from Lepa village in Madhya Pradesh to the helm of a leading fintech firm reflects the expanding opportunities within India’s startup landscape.
Keshre currently holds 55.91 crore shares, representing a 9.06 percent stake in Groww. With the stock trading at record Rs 169 a share, his holding is valued at Rs 9448 crore, placing him around the $1 billion mark.
The stock, listed on November 12 at Rs 100 a share, has jumped more than 70 percent in four sessions, with its market capitalization crossing Rs 1 lakh crore — one of the strongest debuts in recent times.
Groww was founded in 2016 by four former Flipkart executives — Keshre, Harsh Jain, Ishan Bansal and Neeraj Singh.
Keshre, now 44, grew up in modest circumstances, living with his grandparents and attending the only English-medium school in Madhya Pradesh’s Khargone district.
After completing his schooling, he learned about the Joint Entrance Exam and secured admission to IIT Bombay, where he earned his bachelor’s and master’s degrees in technology. He began his career at Flipkart, working as one of the early product managers overseeing the Flipkart Marketplace, before leaving in 2016 to launch Groww with his colleagues.
The listing has also significantly boosted the wealth of the other three founders. Harsh Jain’s 41.16 crore shares are currently valued at Rs 6956 crore, Ishan Bansal’s 27.78 crore shares are worth Rs 4695 crore and Neeraj Singh’s 38.32 crore shares stand at Rs 6476 crore.
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