Billionbrains' Spectacular Market Entry with Groww IPO

Billionbrains Garage Ventures, the parent firm of Groww, marked a successful market debut with shares rising 14% above the IPO price. The IPO was oversubscribed 17.60 times, raising substantial funds for technology and business growth. Backed by major investors, Groww is India's leading stockbroker.

Shares of Billionbrains Garage Ventures, parent company of stockbroking giant Groww, surged in their market debut, opening 14% above the issue price. This showcases strong investor interest.

The IPO of Billionbrains Garage Ventures received an impressive 17.60 times subscription, raising around Rs 2,984 crore from anchor investors, finalizing a valuation over Rs 61,700 crore.

Proceeds from the IPO will bolster tech development and business expansion, backed by leading investors like Peak XV, Tiger Capital, and Microsoft CEO Satya Nadella, as Groww continues its market dominance.

(With inputs from agencies.)