Groww climbs on strong post-listing momentum
Groww had listed on Wednesday (12 November) at Rs 114, opening at a 14% premium. It ended that session at Rs 130.94 on the BSE, reflecting a premium of 30.93% over the issue price. Strong investor interest had already been evident during the IPO, which was subscribed 17.60 times. The issue ran from 4 November to 7 November with a price band of Rs 95 to 100.
The offering included a fresh issue of Rs 1,060 crore and an offer-for-sale of Rs 5,572.30 crore of shares from investor selling shareholders.
From the fresh proceeds, Groww plans to allocate Rs 152.5 crore to cloud infrastructure, Rs 225 crore to brand building and performance marketing, Rs 205 crore to bolster the capital base of its NBFC arm Groww Creditserv Technology, and Rs 167.5 crore to support the margin trading facility business of Groww Invest Tech. The remaining funds will be directed towards general corporate purposes and future acquisitions.
Groww has built a sizeable footprint since its launch in 2018, emerging as a full-stack digital investment platform with offerings across stocks, mutual funds, derivatives and loans. It serves customers across 98% of Indian pin codes, operates 37 million demat accounts and oversees Rs 2.6 lakh crore in AUM through subsidiaries spanning broking, lending and asset management.
For the six months ended 31 March 2025, the company reported a consolidated net profit of Rs 378.99 crore and operating income of Rs 904.40 crore.
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