Shares of Billionbrains Garage Ventures, the parent of stockbroking platform Groww, rose for the fourth straight session on Monday, hitting a fresh high of 20 percent upper circuit on the National Stock Exchange (NSE).
The stock touched an intraday high of Rs 178.23 per share on the NSE, up 20 percent from the previous close.
Over 46 crore shares changed hands till 3:30 pm, with a traded value of Rs 7,612.59 crore. The company's market capitalization stood at Rs 1,10,032.01 crore.
Groww’s parent company made its stock market debut last Wednesday, listing at Rs 112 apiece on the NSE, a premium of 12 percent over the issue price of Rs 100. It later closed the first session at Rs 128.85, marking a gain of 28.85 percent. The company’s Initial Public Offering was subscribed 17.60 times.
Since listing, the shares have gained around 59 percent.
The company garnered a little over Rs 2,984 crore from anchor investors on November 3. Billionbrains Garage Ventures had fixed a price band of Rs 95-100 per share for its IPO.
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 with Sebi in May for an IPO through the confidential pre-filing route and received the markets regulator's approval in August.
Founded in 2016, Groww emerged as India's largest stockbroker, with over 12.6 million active clients and a market share of over 26 per cent as of June 2025.
Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.
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!
