Groww Share Price LIVE Updates: "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.
Post listing, we continue to believe Groww represents a strong long-term structural story and can act as a proxy for India’s expanding capital market participation. Investors should therefore treat it as a medium-to-long-term investment opportunity.
We therefore recommend:
• 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 medium term.
• Non-Allotted Investors: Can also accumulate Groww and monitor the stock post-listing, and consider adding on any meaningful dip.
Groww’s IPO was fairly priced in the range of ₹95–100 per share, which is not overly aggressive compared to other Indian brokerage peers’ valuations. This reasonable pricing led to strong investor demand, primarily driven by Qualified Institutional Buyers (QIBs) at 22x subscription and Non-Institutional Investors (NIIs) at 9x, with healthy retail participation relative to other recent offerings."
Views by: Prashanth Tapse, Sr. VP Research – Research Analyst, Mehta Equities