Groww shares gain another 15% after strong debut, market cap nears ₹1 lakh crore

Shares of Billionbrains Garage Ventures Ltd., parent company of India's largest trading platform Groww, surged another 15% on Thursday, November 13, after making a strong debut on Dalal Street in the previous session.

With this move, shares of Groww are now up 46% 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%.

Over 52.4 crore shares of the company were traded on its listing day, taking the total value to over ₹6,400 crore. Out of the total number of shares traded on Wednesday, 44% or 23.04 crore shares were marked for delivery, according to data available on the NSE.

Thursday's session has already seen 20 crore shares of Groww, worth nearly ₹2,800 crore being traded within the first two hours.

As a result of this two-day upmove, the market capitalization of Groww is nearly ₹90,000 crore.

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.

CNBC-TV18 Access wrote about how founders of Groww added $500 million to their wealth after its stellar listing. More on that here.

Shares of Groww or Billionbrains Garage Ventures are trading 14.4% higher on Thursday at ₹150.31.