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7mo ago

Groww Extends Post-IPO Surge as Market Cap Nears Rs 1 Lakh Crore

Strong buying after a premium listing briefly valued the Bengaluru broker at more than $10 billion.

During Groww’s impressive IPO debut, a Bengaluru startup founder shared an old message from the CEO.
The Groww employee who recalled the firm’s debut on Dalal Street.
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Overview

  • On day two, shares jumped as much as 17% to Rs 153.50 before easing, with profit booking trimming intraday gains.
  • Market value hovered around Rs 90,000 crore and approached the Rs 1 lakh crore mark in volatile trade.
  • The IPO drew 17.6 times subscription and raised about Rs 6,632 crore, combining a Rs 1,060 crore fresh issue with a large offer for sale.
  • Early backers realised sizable proceeds via the OFS, including roughly Rs 1,582 crore for Peak XV, Rs 1,054 crore for Y Combinator, and Rs 656 crore for Ribbit Capital.
  • Backed by profitability and over 1.7 crore active users with about 26% retail share, Groww won bullish notes even as analysts cautioned on rich valuations and regulatory risks.