Shares of Billionbrains Garage Ventures Take a Hit
The shares of Billionbrains Garage Ventures, the company behind the popular stock broking platform Groww, fell by more than 4% on December 10. This drop happened after the one-month shareholder lock-in period came to an end.
The shares were trading at Rs 143.29 each on Wednesday, marking the second day in a row that the stock has seen losses. Around 14.92 crore shares, which is about 2% of the company's total outstanding equity, are now eligible for trading.
What Does This Mean for Investors?
The end of the lock-in period doesn't mean that all these shares will be sold immediately. It simply means that they can now be traded on the market. The total value of these shares is around Rs 2,230 crore, based on the previous closing price of Rs 149.45 per share.
Groww's stock had a strong debut on the stock market on November 12, listing with a 12% premium over the IPO price at Rs 112 per share on the NSE. The stock then surged by 94% in just five sessions, reaching a high of Rs 193.80 per share on November 18.
Current Market Performance
Although the stock has fallen by more than 26% since its peak, it is still up by more than 43% from its IPO price of Rs 100 and around 28% from its listing price of Rs 112 on the NSE. The company's market capitalization is currently over Rs 88,460 crore.
On November 21, Groww reported a consolidated net profit of Rs 471.4 crore for the second quarter of the ongoing financial year 2026. This is a 12% increase from the same period last year. However, the company's revenue from operations declined by 9.5% year-over-year to Rs 1,018.7 crore in Q2 FY26.
Key Points to Note:
- Around 14.92 crore shares of Billionbrains Garage Ventures are now eligible for trading.
- The total value of these shares is around Rs 2,230 crore.
- Groww's stock is still up by more than 43% from its IPO price.
- The company's market capitalization is over Rs 88,460 crore.
Stay tuned for more updates from the stock markets and the latest news on Groww and other leading companies in the financial industry.