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Groww makes strong market debut as IPO lists 14% above issue price

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Om V Angaitkar

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Groww IPO: BillionBrains Garage Ventures, the parent company of popular stockbroking platform Groww, made a strong market debut on November 12. The share opened at Rs 114 on BSE – a gain of 14% from the issue price of Rs 100. On the NSE, it listed at Rs 112 per share, a 12% premium.

The market capitalization of the company at the time of listing was ₹69,144 crore. The debut outperformed gray market estimates.

According to InvestorGain, before the listing, the company’s unlisted shares were trading at a 5% premium to the IPO price. However, this was a steep decline from the nearly 17% premium recorded before the IPO opened for public subscription.