Billionbrains Stock Surge: IPO Success Elevates Unprecedented Growth

Billionbrains Garage Ventures, parent company of Groww, continues its stock rally post-IPO debut with shares climbing over 5% on the second consecutive day. After a strong market debut, the IPO was significantly oversubscribed, indicating robust investor confidence and resulting in a substantial market capitalization boost.

Billionbrains Garage Ventures, the parent company behind Groww, saw its shares rise more than 5% for the second consecutive day, marking a notable post-IPO surge. The company's stock closed at Rs 138.09 apiece on BSE and Rs 137.45 on NSE, bolstering its burgeoning market presence.

The IPO of Billionbrains Garage Ventures debuted with a 31% premium over its issue price, buoyed by significant investor interest. The offering was oversubscribed 17.60 times, raising over Rs 2,984 crore from anchor investors, indicative of the market's confidence in the firm's growth prospects.

Post-IPO, the company's market valuation soared to Rs 84,856.09 crore on the NSE. Billionbrains plans to channel IPO funds into technology and business expansion, solidifying its status in the financial sector with support from prominent investors, including Peak XV and Microsoft's CEO Satya Nadella.

(With inputs from agencies.)