[Update] Groww Extends Post-Listing Gains, Soars Up To 20%

Update | November 17, 17:42 IST

Shares of Groww jumped further to hit the 20% upper circuit at INR 178.09 during the intraday trading on the BSE.

The stock later pared some of the gains but still ended the session 17.76% higher at INR 174.77 on the BSE. The company’s market capitalisation stood at INR 1.07 Lakh Cr (about $12 Bn) at the end of the day. 

Original | November 17, 13:34 IST

Shares of Groww soared 14.45% to INR 169.87 during the intraday trading on the BSE today to touch their highest price since their listing last week.

At 13:10 IST, the stock was trading 12.55% higher at INR 167.03. The company’s market capitalisation stood at INR 1.03 Lakh Cr (about $11 Bn)

Shares of the fintech company have been rallying since their blockbuster listing on November 12 and have jumped nearly 49% from their listing price of INR 114 on the BSE. On the NSE, the stock listed at INR 112 as against the issue price of INR 100.

Groww’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). Its public issue closed with an oversubscription of 17.6X. 

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 spanning mutual funds, stockbroking, asset management, margin trading, and wealth management solutions. It claims to have over 1.8 Cr active users.

With an eye to expand its offerings further, the company has been launching new business verticals and also undertook some acquisitions. Last month, it added commodities trading to its offerings. Prior to that, it completed the acquisition of Fisdom to bolster its wealth tech foray.

Going forward, Groww is focussing on wealth tech as a growth area amid regulatory headwinds in the discount broking segment.

On the financial front, Groww reported a 12% increase in its net profit 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. 

Groww's Financial Performance Over The Years

Source: Inc42 Datalabs

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In FY25, Groww 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.