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Shares of fintech major Groww soared as much as 17.2% to INR 153.50 apiece on the BSE today during their second trading session. This was over 53% above the stock’s issue price of INR 100.
At 13:40 IST, the shares gave up some of the gains and were trading 11.8% higher at INR 146.34. The company’s market capitalisation stood at INR 90,344 Cr ($10 Bn).
On the NSE, the stock touched a high of INR 153.50 today. At 13:40 IST, the shares were trading nearly 8% higher at INR 141.40.
Groww’s shares made their public market debut yesterday, listing at a premium of 14% to the issue price on the BSE. On the NSE, the stock got listed 12% above the issue price.
The fintech major’s IPO comprised a fresh issue of up to INR 1,060 Cr and an OFS component of up to 55.72 Cr shares. At the upper end of the price band, the company was valued at INR 61,700 Cr (around $7.4 Bn).
Peak XV Partners, Y Combinator, Ribbit Capital, Tiger Global, True Bridge Capital, Alkeon, Propel Sequoia, Fraile and Nirman.VC sold shares via the OFS, raking in big returns.
Founded in 2016 by Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal, Groww is a full-stack financial platform which offers mutual funds, stockbroking, commodities trading, asset management, margin trading, and wealth management solutions. It claims to have over 1.8 Cr active users.
On the financial front, Groww’s net profit grew 12% to INR 378.4 Cr in Q1 FY26 from INR 338 Cr in the year-ago quarter. However, operating revenue shrinked 9.6% to INR 904.4 Cr during the quarter under review from INR 1,000.7 Cr in Q1 FY25.
In FY25, the company posted a net profit of INR 1,824.4 Cr as against a loss of INR 805.5 Cr in the previous fiscal year. Operating revenue zoomed about 50% to INR 3,901.7 Cr from INR 2,609.3 Cr in FY24.
The post Groww Shares Soar Up To 17% In Second Trading Session appeared first on Inc42 Media.
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