Groww Shares: There is a tremendous rise in the shares of BillionBrains Garage Ventures, the parent company of stockbroking platform Groww. A huge jump was seen in it for the fourth consecutive day since the listing. With this, the market cap of the company has crossed Rs 1 lakh crore in a very short time, whereas initially its market capital was Rs 69,144 crore. The investors who were allotted shares during the IPO became rich in less than a week and those who missed the opportunity were left wringing their hands.
Share of Rs 100 reached Rs 175
The share price in the IPO was Rs 100, but during trading on Monday 17 November it jumped 20 percent to Rs 178.09. Ultimately the shares closed at the level of 178.23. In just four days the shares jumped by almost 78 percent. At the same time, the shares were listed on NSE at a premium of 12 percent at Rs 112 per share, which has now crossed Rs 1 lakh.
Company owners in the list of billionaires
This stormy rise in the shares of Grow has not only made its investors happy, but the company’s owner Lalit Keshare has also become rich. Lalit Keshare holds about 55.91 crore shares of Grow, which are worth more than Rs 9,960 crore as per the closing price of Rs 178.23 on the National Stock Exchange (NSE) on Monday. His stake in dollars is 1.12 billion dollars (1 US dollar is equal to Rs 88.61).
How did Groww start?
Lalit was born in a farmer family in a village called Lepa in Madhya Pradesh. After some time, he went to Khargone to his grandparents for studies because there was no English medium school in his village. After cracking JEE, he took admission in IIT Bombay and obtained both graduation and master’s degrees in technology.
Firstly he was in the role of Senior Products in Flipkart. In the beginning of 2016, he started Grow along with some of his old colleagues in Flipkart – Harsh Jain, Ishaan Bansal and Neeraj Singh. Grow earned a net profit of Rs 1,824 crore with a total income of Rs 4,056 crore for the business year ending March 31, 2025.
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