Shares of Billionbrains Garage Ventures, parent of stockbroker Groww, rose 15% an intraday basis after listing at a premium of 14% over its IPO price on November 12.
The stock opened at Rs 114 on the BSE as against the issue price of Rs 100. Post-listing, the stock hit an intraday high of Rs 133.50 apiece. The stock's market capitalisation at the end of the debut day stood at Rs 80,837.07 crore.
Groww shares closed at 130.94 apiece.
The IPO comprised 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 IPO received 17.6 times subscription on the final day of the share sale and was fully-subscribed within hours of opening last week, led by strong demand from institutional and retail investors.
Groww made a good IPO debut, reflecting healthy investor confidence driven by strong brand recall and rapid user growth in the Indian digital investing ecosystem, said Shivani Nyati of Swastika Investmart.
"Groww made a good debut on the stock market, listing at approximately ₹112 (around 12% above its issue price of Rs 100), reflecting healthy investor confidence driven by strong brand recall and rapid user growth in the Indian digital investing ecosystem. Groww is one of India’s fastest-growing investment platforms, offering equity trading, mutual funds, fixed deposits, and US stock investing through a mobile-first platform, supported by a clean UI/UX and transparent pricing.
"The company’s strengths include low customer acquisition cost, high monthly active users, strong conversion rates from MF to equity investing, and consistent growth in assets under management (AUM). Despite strong growth, concerns around high valuation multiples, margin pressures, and regulatory risks in the fintech/brokerage space weighed on cautious investors. The IPO attracted significant institutional participation, driven by expectations of further market share gains from traditional brokers, strong customer additions, and improving operating leverage. Investors/traders allotted shares may book part profit and hold the remain for the medium to long term with stoploss of 80," said Nyati.
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.
Of the fresh issuance, Rs 225 crore will be used for brand building and performance marketing activities, and Rs 205 crore will be invested in Groww Creditserv Technology Pvt Ltd (GCS), the NBFC arm, to augment its capital base.
Additionally, Rs 167.5 crore will be infused into Groww Invest Tech Pvt Ltd (GIT) to fund its margin trading facility business, while Rs 152.5 crore has been earmarked to strengthen cloud infrastructure.
The balance will be utilised for funding inorganic growth through acquisitions and for general corporate purposes.
Headquartered in Bengaluru, Groww filed draft papers in May with markets regulator Sebi for an IPO through a confidential pre-filing route and received Sebi'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.
With inputs from agencies
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
