Billionbrains Garage Ventures, the Bengaluru based company behind the popular brokerage platform Groww, made a striking debut on Dalal Street on Wednesday. As excitement around the listing spread, a Bengaluru based startup founder revisited a memorable message from Groww CEO Lalit Keshre.
Taking to X, the founder Sudhanshu shared a screenshot of a message Keshre had sent him months earlier. In the note, Keshre had written, "Hey Sudhanshu, would love to catch up sometime. Let me know if you are up for it."
Sudhanshu captioned the post saying, "Just three and a half months before the IPO, Lalit messaged to know more about Matiks. I was surprised that he and his son are hooked to Matiks. Took a lot of learnings but two lines have stayed. Be addicted to your platform, showed how he still uses Groww for two hours daily. Retention is the only thing that matters. From being an early user of Groww in 2019 to an early investor post IPO, always been in awe of Lalit Keshre and Groww. Congrats team."
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{{/usCountry}}Strong debut on the stock market
Founded in 2016, Groww has emerged as one of India’s largest retail brokerage platforms and is backed by Microsoft CEO Satya Nadella. The fintech unicorn exceeded expectations with a powerful listing that immediately caught market attention.
On the National Stock Exchange, Groww shares opened at 112 rupees apiece and later rose to 124 rupees, outperforming the issue price of 100 rupees in its 754 million dollar IPO, as reported by Reuters. The Bombay Stock Exchange also saw a robust start, with the stock listing at 114 rupees, up fourteen per cent from the issue price.
Closing higher on listing day
By the end of its first trading session, Groww had further strengthened its position. On the NSE, the share price closed at 128.85 rupees, marking a 28.85 per cent premium to its IPO price. On the BSE, it ended at 130.94 rupees, a 30.94 per cent gain compared to the issue price.