Groww slips 4% as one-month lock-in ends; here's what analyst suggest

Groww shares are currently trading 45 per cent above its issue price of ₹100 and 30 per cent its listing price of ₹112 per share.

Billionbrains Garage Ventures, the parent of online brokerage platform Groww, shares slipped 3.7 per cent on the BSE, logging an intra-day low at ₹144.05 per share. The selling pressure on the counter came after a one-month shareholder lock-in period ended. 

 

At 9:46 AM, Groww’s share price was trading 3.21 per cent lower at ₹144.9 per share on BSE. In comparison, the BSE Sensex was up 0.31 per cent at 84,925.35.

 

The company has a total market capitalisation of ₹89,455.42 crore. Its 52-week high was at ₹193.91, and its 52-week low was at ₹112.02.  

 

The stock is currently trading 45 per cent above its issue price of ₹100 and 30 per cent its listing price of ₹112 per share. 

 

Around 149 million shares, or approximately 2 per cent of the company's outstanding equity, will become eligible for trading once the lock-in expires, according to a report by Nuvama Alternative and Quantitative Research. However, this does not imply that all these shares will be offloaded in the market immediately. The expiry of the lock-in period simply means that these shares can now be traded. 

Analyst view on Groww 

Kranthi Bathini, director - equity strategy, WealthMills Securities, sees the stock as fully priced-in and recommends “not buying” for new investors. 

 

For exisiting investors, Bathini suggests to sell Groww stock on rally as the valuations seem uncomfortable.   According to Thomas V Abraham, research analyst, Mirae Asset ShareKhan, Groww's valuations command a premium over peers like Angel One and Motilal Oswal, justified by stellar growth prospects in user base and diversification. Yet, with expansion into wealth management via Fisdom, execution risks loom and hence is advisable to watch closely the quarterly results for proof of success.  However, Abhinav Tiwari, research analyst, Bonanza remain positive on Groww because its current valuation is well supported by the company’s strong growth outlook, even though the stock may see some short-term correction due to the lock-in expiry.  "The recent volatility is more of a technical event, not a change in fundamentals. Groww continues to deliver healthy profitability, strong user addition, and has multiple levers for long term revenue expansion. So while the near term pressure is possible, the long term story and valuation still look justified," said Tiwari.

Groww Q2 results

In the September quarter (Q2FY26), Groww posted a 12 per cent year-on-year (Y-o-Y) increase in consolidated net profit to ₹471.3 crore, even as operating revenue declined 9.5 per cent to ₹1,019 crore from ₹1,125 crore a year earlier. Operating profit fell 13 per cent to ₹624 crore.

 

A tighter derivatives framework reduced trading volumes, weighing on Groww’s topline. Still, the platform’s active users rose 27 per cent Y-o-Y to 148 million in Q2FY26.

 

Derivatives trading accounted for 57 per cent of the company’s income, followed by cash trading (19 per cent) and float income (7 per cent).

 

The company noted that its business model operates like a software platform, with over 90 per cent of costs being non-direct in nature. As a result, incremental revenue largely flows through to the bottom line. “Whenever our revenue growth outpaces costs, our leverage improves, leading to higher profitability,” it said.

Groww listing 

Groww made its debut on Dalal Street on November 12, 2025, listing at a premium to its issue price amid strong institutional demand and solid anchor participation.

 

Shares of Groww opened at ₹114 per share on the BSE, marking a 14 per cent gain over the issue price of ₹100. On the NSE, the stock debuted at ₹112 per share, up 12 per cent.  Disclaimer: View and outlook shared on the stock belong to the respective brokerages/analysts and are not endorsed by Business Standard. Readers discretion is advised.