Groww Parent Surges 72% Above IPO Price as Market Cap Crosses ₹1 Lakh Crore: What’s Driving the Move

Mumbai | November 17

Shares of Billionbrains Garage Ventures, the parent company of investing platform Groww, extended gains for the third consecutive session on Monday, posting another strong move in a firm market. The stock jumped nearly 16% intraday to touch ₹172 on the NSE before settling around ₹169.69, up over 14% for the day. With the latest uptrend, the company’s market capitalisation crossed ₹1.04 lakh crore, placing it among the most valuable listed fintech players in India.

At current levels, the counter is trading almost 72% above its IPO issue price of ₹100 per share, marking one of the strongest post-listing performances among recently listed technology and financial services companies.

What’s driving the move

Billionbrains Garage Ventures made its market debut on 12 November, listing at ₹112, a 12% premium over the issue price. The stock has remained in an uptrend since listing, supported by sustained institutional buying, strong brand visibility and a positive response from the broader market towards digital investment platforms.

The IPO, priced in the ₹95–₹100 range, comprised a fresh issue of ₹1,060 crore and an offer-for-sale (OFS) of ₹5,572.30 crore. According to company disclosures, funds from the fresh issue will be deployed towards technology development, product enhancement and expansion of the Groww ecosystem across investment products.

Institutional demand played a key role in the overall momentum. The IPO was subscribed 17.60 times, with the Qualified Institutional Buyers (QIB) segment receiving 22.02 times bids. Non-institutional and retail investors also showed strong participation. Ahead of the IPO, the company raised ₹2,984.5 crore from anchor investors, including global institutions such as the Government of Singapore, Monetary Authority of Singapore, Goldman Sachs, Morgan Stanley, Abu Dhabi Investment Authority, and major domestic mutual funds such as HDFC MF, Axis MF, Kotak MF, SBI MF, Nippon India MF, Mirae Asset, and ICICI Prudential Life Insurance.

The steady build-up of institutional holding and strong post-listing demand have kept sentiment firm around the stock.

Groww share price: Momentum intact post listing

The company’s valuation has risen sharply within days of listing, driven by optimism over the growth of India’s retail investing segment and the continued shift towards mobile-first, self-directed financial platforms. Market participants note that trading volumes in the stock remain high, aided by sustained interest from long-only funds and domestic investors.

Founded in 2016, Billionbrains Garage Ventures operates Groww, a direct-to-consumer investing platform enabling users to invest in stocks, ETFs, mutual funds, IPOs, NFOs, and derivatives. The platform has scaled rapidly over the past few years, supported by deeper retail market participation and an expansion in its product suite.

With the counter now trading significantly above issue price and market cap exceeding the ₹1 lakh crore mark, Groww share price continues to remain one of the most closely watched among newly listed fintech companies.