Groww market cap hits ₹1 lakh crore, stock now up 64% from IPO price

Shares of Billionbrains Garage Ventures Ltd., the parent company of India's largest trading platform Groww, surged another 13% on Monday, November 17. The stock has gained in all four days of its trading history on Dalal Street.

The stock hit a record high of ₹169.79 today.At the highest point of the day, the company's market capitalisation touched the mark of ₹1.05 lakh crore.

With this move, shares of Groww are now up 64% from their issue price of ₹100 per share.

Shares of Groww made their stock market debut on Wednesday, listing at a 12% premium in comparison to their issue price. The stock went on to close its trading debut with gains of 30%.

Today's session has also seen the stock surge on very high volumes. As many as 25 lakh shares of the company have already been traded as of 12:20 PM. The total value of the shares traded is now worth nearly ₹4,000 crore. Only 25% of those shares traded so far are marked for delivery, according to data available on the NSE.

The three-day IPO of Groww was subscribed 17.6 times the total number of shares on offer. Investors placed bids for 641 crore shares, compared to the 36.47 crore shares that were on offer. The portion reserved for institutional investors was subscribed 22 times, while that for non-institutional and retail investors was subscribed 14 times and 9 times respectively.