The stock has now delivered a staggering 94% return over its IPO price of Rs 100 and is up 70% from its BSE listing price of Rs 114.
Groww’s Rs 6,632-crore IPO, which ran from November 4 to 7, saw strong demand across categories, with overall subscription at 17 times. The bulk of the interest came from qualified institutional buyers, while the retail portion was subscribed to 9 times, and non-institutional investors subscribed 14 times. The allotment process was completed earlier this week.
Launched in 2016 by former Flipkart executives, Groww has grown into a prominent digital investment platform offering equity broking, mutual funds and derivatives. The company has rapidly scaled over the past three years and now counts more than 10 crore registered users and over 60 lakh active investors, making it one of India’s most downloaded investment apps.
Shivani Nyati, Head of Wealth at Swastika Investmart, said Groww made a steady debut at around, reflecting investors’ confidence in the brand and the momentum in India’s online investing space. She highlighted factors such as low customer acquisition costs, a large base of monthly active users, strong cross-selling from mutual funds to equities, and consistent AUM growth as supportive drivers.
Groww’s market value is now bigger than 8 other listed brokers combined. 5 factors behind the surgeAt the same time, she cautioned that elevated valuations and the evolving regulatory environment for fintech and broking firms remain key risks. Nyati suggested that investors who received allotments hold the stock for medium- to long-term potential.Also Read: Groww’s market value is now bigger than 8 other listed brokers combined. 5 factors behind the surge
Prashanth Tapse of Mehta Equities shared a similar view. He recommended that allotted investors continue to stay invested to benefit from Groww’s long-term structural story and pegged the medium-term target at Rs 125–130, which the stock has comfortably surpassed. For those who did not receive shares, he advised monitoring post-listing trends and accumulating on meaningful corrections.
By around 10 am, the stock was trading at Rs 183 on the NSE, up 4.7% from the previous close.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
