Groww - Corporate Updates

Groww shares fall 10% post‑IPO rally

Groww’s parent company shares fell sharply on November 19, triggering a 10% lower circuit limit following a stellar post‑IPO rally. The stock had risen nearly 94% in just five trading sessions since its ₹100 listing, prompting early investors to book profits.

Analysts noted that while the company demonstrates strong revenue and profit growth, its elevated valuation has increased short‑term volatility risks. The upcoming quarterly results will be closely watched for indications of sustained business momentum.

Market experts suggest that investors exercise caution: early buyers may consider partial profit-taking, while new entrants should weigh the valuation against growth prospects.

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Groww CEO Lalit Keshre enters billionaire ranks

Lalit Keshre, cofounder and chief executive of investment platform Groww, has joined India’s growing list of tech billionaires following the company’s exceptional stock market debut.

Keshre, 44, holds 55.91 crore shares in the company with a 9.06% stake. With Groww’s stock touching a record ₹169 on Wednesday, his holding is now valued at about ₹9,448 crore, placing him near the $1-billion milestone.

Groww’s shares have surged over 70% in just four trading sessions since being listed on November 12 at ₹100 apiece. The rapid climb has pushed the company’s market capitalisation beyond ₹1 lakh crore.

Four former Flipkart executives Keshre, Harsh Jain, Ishan Bansal and Neeraj Singh, Founded Groww in 2016.

Keshre, who grew up in a farming family in Lepa village in Madhya Pradesh, cleared the Joint Entrance Exam and went on to earn dual degrees in technology from IIT Bombay. He later joined Flipkart as an early product manager, where he helped build the company’s marketplace business before leaving to launch Groww with his colleagues.

The soaring stock price has also significantly lifted the fortunes of the other founders. Harsh Jain’s 41.16 crore shares are currently worth about ₹6,956 crore, Ishan Bansal’s 27.78 crore shares are valued at roughly ₹4,695 crore, and Neeraj Singh’s 38.32 crore shares amount to around ₹6,476 crore.

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