Groww's Meteoric Rise Continues Unabated
The parent company of the popular stock broking platform Groww, Billionbrains Garage Ventures, is experiencing a powerful bullish trend that shows no signs of stopping. The company's stock, which began trading on the bourses just last week, has been climbing consistently for five consecutive days. In the latest session, the share price witnessed a significant jump of 11% to reach ₹193.91.
This relentless upward movement is turning the Groww IPO into a potential multibagger for its initial investors. Those who invested during the initial public offering are already sitting on spectacular returns of nearly 94%. The stock had set a strong precedent on its very first day of listing last Wednesday, closing with impressive gains of approximately 31% over its IPO price.
A Prestigious ₹1 Lakh Crore Market Cap Club
The rally reached a critical milestone on Monday, November 17, when the stock surged by a staggering 20%. This powerful move propelled Groww's market capitalisation above the psychologically significant ₹1 lakh crore mark. This achievement places the relatively young company among an elite group. Out of the nearly 5,000 companies listed on Dalal Street, only around 100 have managed to attain such a formidable valuation.
To put this into perspective, Groww's current market value now exceeds the combined market capitalisation of eight established stock broking firms. These include Angel One, Nuvama Wealth, JM Financial, Choice International, IIFL Capital, 5Paisa, Anand Rathi, and DAM Capital.
New Billionaire and Valuation Concerns
The spectacular rally has had a life-changing effect for its co-founder and CEO. Lalit Keshre's holding in the company has swelled past the $1 billion mark However, this rapid price appreciation is leading some analysts to sound a note of caution. They believe that the stock's rally might be running ahead of the company's fundamental valuations. Nitin Jain, a Senior Research Analyst at Bonanza, highlighted the concern, noting that Groww is currently trading at a price-to-earnings (P/E) multiple of 61x. This is substantially higher than its peers: Motilal Oswal (29x), Angel One (33x), and Nuvama Wealth (26x). The implied P/E at the time of the IPO was already elevated, estimated between 33–37x. Jain added, "Groww has certainly run well ahead of most listed capital market players on valuation, justified mainly on the promise of digital scale and future product expansion. For value-oriented investors, current levels might demand caution, while growth-focused believers could still justify the premium if long-term projections are met." All eyes are now on the company's upcoming financial results, which are scheduled to be declared later this week on Friday, November 21. These second-quarter earnings will provide crucial insight into the broking firm's underlying financial health and fundamentals. Founded in 2016, Groww has rapidly emerged as India's largest stockbroker. As of June 2025, it boasts over 12.6 million active clients and commands a dominant market share of over 26 per cent.
