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MUMBAI: Four early investors in Billionbrains Garage Ventures that operates the leading fintech platform Groww, are together selling 4.3% stake worth about $500 million (close to Rs 4,800 crore) in the recently-listed company. Peak XV, Sequoia, Y Combinator and Ribbit, the selling shareholders, have mandated Kotak Securities and JP Morgan India to sell the shares…
Citigroup initiated its coverage of Pine Labs with a buy rating and a target price of Rs 235. Analysts said that India’s payments fintech is on a monetization improvement trajectory, with leading players increasingly entrenched in respective core areas of leadership. While product, services and distribution build-outs into comprehensive plays will continue across the fintech…
Nomura has a buy rating on Bharti Airtel with the target price at Rs 2,300. Analysts attended Bharti Airtel’s investor call. Among the key takeaways were the company’s commitment of Rs 20,000 crore into Airtel Money that will be done gradually over the years with 10-15% to be invested in the first year. The company…
Jefferies has initiated its coverage of Groww with a buy recommendation and a target price of Rs 180. Analysts said Groww is the largest broker in India in terms of active clients, despite starting the business in FY21. They believe Groww has several levers to drive 35% compounded annual growth rate (CAGR) of its earnings…
Following its successful market debut, which attracted significant institutional and retail participation, Groww’s shares maintained their positive trajectory. (AI image) Groww share price grows! Investment platform Groww’s parent company Billionbrains Garage Venture is nearing the Rs 1 lakh crore mark in terms of market capitalization. After a strong listing on Wednesday, shares of Groww surged…
Groww made a strong debut on Dalal Street on Wednesday, with shares listing on both the BSE and NSE at a premium over the issue price.Shares of Billionbrains Garage Ventures Ltd (Groww) listed at Rs 114 apiece on the BSE, marking a 14% premium over the IPO price of Rs 100. On the NSE, the…
The grey market premium (GMP) for online investment platform Groww has sharply declined by nearly 70%, dropping from Rs 16 at its peak to around Rs 5 before its listing. This translates to a modest 5% premium over the IPO price of Rs 402 per share, signalling cautious investor sentiment after Lenskart’s weak listing.Prashant Tapse…
Investors who applied for the IPO of Billionbrains Garage Ventures will find out today if they have been allotted the shares.With the IPO of Groww’s parent company now closed, investors can check their allotment status. Demat accounts of successful bidders are expected to be credited on Tuesday, and the stock is set to make its…
MUMBAI: The Rs 6,632-crore IPO for online financial services platform Groww was subscribed 17.6 times at close on Friday, with institutional investors leading the bidding. However, with the stock market witnessing sharp volatility, the grey market premium (GMP), the mark-up over the upper band of the offer price in the unofficial market for stocks, fell…
Groww’s initial public offering, through which the company plans to raise Rs 6,632 crore, has entered its final day of subscription. At the upper end of the price band, the issue values the investment platform at 33.8 times its FY25 earnings. As per BSE data, the IPO of Groww (Billionbrains Garage Ventures Ltd) has drawn…
