This marks a notable 45.5% gain over its IPO issue price of Rs 100, while the stock has now risen 27.6% from its BSE listing price of Rs 114.
The continued uptrend in Groww’s stock has kept investor attention firmly fixed on the company’s debut, which was met with strong institutional and retail demand. Analysts are now turning their focus to the company’s structural strengths, business outlook, and post-listing investment strategy.
Prashanth Tapse, Senior VP (Research) at Mehta Equities, noted that “Groww’s listing was slightly more than what we had expected and the implied valuation appears justifiable, backed by rapid customer growth (over 10 crore registered users), strong brand recall in retail investing, rising market share in F&O and mutual fund distribution, and a scalable digital business model with low incremental cost.”
Tapse views Groww as a long-term structural story, stating, “Groww represents a strong long-term structural story and can act as a proxy for India’s expanding capital market participation.”
On post-listing investment strategy, Tapse advised that “Allotted Investors: HOLD for the long term, given the company’s structural strengths and growth potential, while acknowledging short-term market risks with a target of Rs 125–130 in the medium term,” and for “Non-Allotted Investors: Can also accumulate Groww and monitor the stock post-listing, and consider adding on any meaningful dip.”Meanwhile, Master Capital Services, in its post-listing note, highlighted the overwhelming investor interest during the IPO, citing a total subscription of 17.60 times. The firm remarked that the number of active users on Groww’s platform increased at a CAGR of 52.74% from the beginning of Fiscal 2023 through the three months ended June 30, 2025.It noted that “with India’s largest and fastest-growing investment platform based on active users, Billionbrains Garage Ventures Ltd (Groww) is well-positioned to take advantage of this momentum with its technology-enabled and customer-centric business model.”
Further, another analyst, Shivani Nyati, Head of Wealth at Swastika Investmart, echoed similar views, commenting, “Groww made a good debut on the stock market, listing at approximately Rs 112 (around +12% above its issue price of Rs 100), reflecting healthy investor confidence driven by strong brand recall and rapid user growth in the Indian digital investing ecosystem.”
Nyati also pointed to strengths, including “low customer acquisition cost, high monthly active users, strong conversion rates from MF to equity investing, and consistent growth in assets under management (AUM).” However, she flagged concerns around high valuation multiples and regulatory risks in the fintech/brokerage space.
On the investment approach, Nyati advised, “Investors/traders allotted shares may book part profit and hold the remainder for the medium to long term with a stoploss of 80.”
Analysts broadly acknowledged the structural transformation taking place in India’s digital investment ecosystem, with Groww seen as a beneficiary of this shift.
Also read: Infosys’ Rs 18,000 cr buyback: 10 things to know ahead of Nov 14 record date
As noted in the Master Capital report, “The company is the leading discount broker in India to facilitate growth and wealth creation through diversified financial products and services,” with offerings across equity trading, mutual funds, personal loans, fixed deposits, and more.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
