Groww shares extend gains for 2nd day, rise 13%; m-cap surges to Rs 91,500 crore

Groww shares extend gains for 2nd day, rise 13%; m-cap surges to Rs 91,500 crore

Shares of Billionbrains Garage Ventures, the parent company of stock broking firm Groww, extended their gains for second day by rising 12% on November 13. The company's market valuation rose to nearly Rs 91,500 crore on the NSE.

At 11:05 am on November 13, Groww shares were trading 13% higher at Rs 148.7 apiece.

On November 12, shares of Groww made a remarkable market debut by closing with a premium of nearly 31% against the issue price of Rs 100.

On Friday, the Initial Public Offering (IPO) of Billionbrains Garage Ventures received 17.60 times subscription on the final day of the share sale.

Billionbrains Garage Ventures garnered a little over Rs 2,984 crore from anchor investors on November 3.

The firm had fixed a price band of Rs 95-100 per share for its IPO, targeting a valuation of over Rs 61,700 crore (about $7 billion).

The IPO has a fresh issue of equity shares worth Rs 1,060 crore along with an Offer for Sale (OFS) component of 55.72 crore equity shares.

The company, which is backed by marquee investors such as Peak XV, Tiger Capital, and Microsoft CEO Satya Nadella, plans to use proceeds from the IPO to invest in technology development and business expansion.

Headquartered in Bengaluru, Groww filed draft papers in May with Sebi for an IPO through a confidential pre-filing route and received the markets regulator's approval in August.

Groww opted for the confidential pre-filing route, which allows it to withhold public disclosure of IPO details under the DRHP until later stages. This route is gaining traction among Indian firms aiming for flexibility in their IPO plans.

Founded in 2016, Groww emerged as India's largest stockbroker, with over 12.6 million active clients and a market share of over 26% as of June 2025.