Groww shares fall nearly 1% as lock-in for equity worth ₹2,525 crore ends

Shares of Billionbrains Garage Ventures Ltd., the parent company of the trading platform Groww, fell about 1% on Monday, February 9, as its three-month shareholder lock-in period comes to an end.

As per Nuvama Alternative & Quantitative Research, a total of 149.2 million shares or 2% of Groww's outstanding equity will be freed for trade, with the lock-in period ending.

Based on Friday's closing price or the current market price, the value of shares that will be eligible for trading once the lock-in period ends is worth ₹2,525 crore.

Read more: Stocks to watch on February 9: Tata Motors, Bharat Forge, Aurobindo Pharma, IDBI Bank and more

It must be noted that the end of the shareholder lock-in does not mean all the shares will be sold in the open market. They only become eligible to be traded.

In November, shares of Billionbrains Garage Ventures made a strong debut on Dalal Street, nearly doubling from their issue price within the first few days of listing. The stock, however, has since corrected from its early highs of ₹193, which it touched within the first five trading sessions.

The stock is currently trading 0.97% lower at ₹167.58, while it is up 67.58% from its IPO price of ₹100 apiece.