Groww Shares See Profit Booking After 37% Listing Gains

Shares of Groww, the stockbroking platform operated by Billionbrains Garage Ventures, witnessed profit booking on November 13, after delivering an impressive 37% return over its listing price in just two trading sessions.

At 12:45 PM, the stock had fallen 7 percentage points from the day’s high on an intraday basis, following a strong start earlier in the session where it rose as much as 17% on the second day of listing.

At its day’s high, Groww’s market capitalisation stood close to ₹1 lakh crore, reflecting strong investor interest despite recent volatility.

Stellar Market Debut and IPO Details

Groww made a remarkable debut on November 12, with its shares closing at a 31% premium to the issue price of ₹100. The stock had listed at a 12% premium before extending gains through the day.

The Initial Public Offering (IPO) of Billionbrains Garage Ventures had seen a robust investor response, being subscribed 17.60 times on the final day of the share sale.

The company had fixed its price band at ₹95–₹100 per share, targeting a valuation of over ₹61,700 crore (around $7 billion).

The ₹1,060 crore fresh issue and Offer for Sale (OFS) of 55.72 crore equity shares formed part of the public offering.

Additionally, Groww raised ₹2,984 crore from anchor investors on November 3, ahead of the IPO opening.

Also Read: Mutual Funds Retain High Cash Buffers Amid Market Gains

Investor Backing and Purpose of Fundraising

Groww is backed by marquee investors such as Peak XV Partners (formerly Sequoia Capital India), Tiger Global, and Microsoft CEO Satya Nadella.

The company plans to utilize the IPO proceeds for technology development and business expansion, strengthening its position in India’s fast-evolving financial services space.

Listing Momentum and Market Cap Surge

The stock’s strong momentum post-listing was supported by upbeat sentiment from retail and institutional investors.

• On November 12, Groww closed 15% higher, with its market cap nearing ₹81,000 crore.

• On November 13, it extended gains to ₹91,500 crore, before touching the ₹1 lakh crore mark at day’s high.

However, after touching new highs, investors opted for profit booking, leading to the intraday dip observed later in the session.

IPO Subscription and Regulatory Filings

Groww had filed its draft papers with SEBI in May 2025 through the confidential pre-filing route, receiving the regulator’s approval in August.

This route allows companies to delay public disclosure of IPO details until later stages, offering more flexibility in their listing plans — a trend increasingly adopted by Indian firms.

Company Overview

Founded in 2016 and headquartered in Bengaluru, Groww has emerged as India’s largest stockbroker, boasting over 12.6 million active clients and a market share exceeding 26% as of June 2025.

The company’s rapid growth, driven by technology-based trading solutions and a broad retail user base, positioned it as a leading player in India’s online investment ecosystem prior to its IPO.

Conclusion

Groww’s shares, which had delivered 37% gains in just two sessions, saw profit booking on November 13 as investors locked in short-term profits. Despite the pullback, the company’s ₹1 lakh crore market cap milestone and strong IPO response underscore sustained investor confidence in its growth trajectory.

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