Daijiworld Media Network – New Delhi
New Delhi, Nov 12: Online stockbroking platform Groww witnessed a robust debut on the stock exchanges on Wednesday, opening 12–14 percent higher than its issue price and quickly surging over 21 percent in early trade.
On the NSE, Groww shares opened at Rs 112 per share, while on the BSE, the stock began trading at Rs 114 per share, compared to the issue price of Rs 100. The listing pushed Groww’s market capitalisation to Rs 69,144 crore, comfortably exceeding grey market expectations.
Before the listing, the company’s unlisted shares were trading at a 5 percent premium in the grey market, reflecting strong investor demand.
The IPO of Billionbrains Garage Ventures, Groww’s parent company, received an overwhelming response from investors, being subscribed 17.60 times. The issue attracted bids for about 641.87 crore shares against an offer size of 36.47 crore shares.
The Qualified Institutional Buyers (QIBs) led the charge with subscriptions 22.02 times their quota, followed by Non-Institutional Investors (14.20 times) and retail investors (9.43 times).
Groww’s IPO comprised a fresh issue of Rs 1,060 crore and an offer-for-sale (OFS) of Rs 5,572 crore, taking the total issue size to Rs 6,632 crore. The company’s impressive debut follows close on the heels of another major listing — eyewear brand Lenskart.
Commenting on the debut, Shivani Nyati, Head of Wealth at Swastika Investmart, said Groww’s strong opening reflects healthy investor confidence driven by brand recall and rapid user growth in India’s digital investment space.
“The IPO saw significant institutional participation, indicating expectations of further market share gains from traditional brokers and sustained customer growth. Investors may consider booking partial profits while holding the rest for the medium to long term with a stop loss at Rs 80,” Nyati advised.
Meanwhile, the Indian equity markets opened on a positive note on Wednesday amid optimism over a possible India–US trade deal and favourable exit poll results in Bihar.
At 9:15 a.m., the Sensex was up 415.06 points (0.49%) at 84,286.38, while the Nifty gained 121.90 points (0.47%) to trade at 25,816.85.