Groww’s parent company, Billionbrains Garage Ventures is in the limelight today (November 17) as the stock continued its upward momentum, taking its market cap past the Rs 1 lakh crore mark. The stock has been on an uninterrupted rise since listing last week
Another strong session for Groww’s parent
The share price of Groww climbed nearly 11% in early trade, touching about Rs 165 on the National Stock Exchange. This marks the fourth straight day of gains for the newly listed company.
From listing to new highs in just days
Groww’s parent company made its exchange debut last Wednesday at Rs 131.3 per share, a premium over the issue price of Rs 100. The stock maintained momentum through the week, with the surge extending into Monday.
At current levels, the share price is now around 66% higher than the IPO price.
IPO saw strong subscription
The public offer worth Rs 6,632 crore was open between November 4 and November 7. The issue was subscribed a little over 17 times, led mainly by interest from institutional investors.
Market cap moves past Rs 1 lakh crore
With the continuing uptrend, the company’s market capitalisation has crossed Rs 1 lakh crore.
For IPO investors, this steep rise has resulted in sharp listing gains in less than a week.
Where the IPO money will be used
According to the company’s filings, funds from the IPO will be channelled into:
- Technology upgrades
- Marketing and business expansion
- Capital infusion into the NBFC arm
- Working capital needs
- Possible inorganic growth plans
Groww’s position in India’s broking industry
Founded in 2016, Groww has become one of the largest retail broking platforms in the country. The platform had over 12.6 million active clients and around 26% market share as of June 2025.
Backed by global investors
Groww has the backing of several well-known global and domestic investors including Satya Nadella, Tiger Global, Y Combinator, Peak XV, Ribbit Capital, GW-E Ribbit Opportunity Fund, Kotak Pioneer Fund, and more.