Groww's Staggering Debut: Shares Soar Post-IPO

Billionbrains Garage Ventures, the parent company of Groww, saw its shares rise over 17% for the second straight day following its IPO. The stock's valuation soared past Rs 89,517 crore, driven by strong market debut and investor interest. The company plans to invest in technology and expand its operations.

Shares of Billionbrains Garage Ventures, which operates stock-broking giant Groww, continued their upward trajectory for a second day, surging more than 17% on Thursday. The company's scrip climbed to Rs 153.50 on the BSE, marking a 17.22% gain and a 16.88% rise on the NSE.

This impressive performance propelled the firm's market valuation to a staggering Rs 89,517.15 crore on the NSE. In just two trading sessions, the stock has seen a 48% increase from its initial issue price of Rs 100.

Billionbrains made a robust market entry on Wednesday, closing at a nearly 31% premium over its issue price. The IPO was oversubscribed 17.60 times, raising over Rs 2,984 crore from anchor investors, with a focus on technology investment and business expansion.

(With inputs from agencies.)