Overview
- Groww shares closed at Rs 151.89 on Nov. 24, down 3.8% for the day, 52% above the Rs 100 IPO price and about 22% below the Nov. 18 peak.
- Market analyst Ambareesh Baliga said the earlier surge was driven by technical factors including a short squeeze and argued the valuation looks expensive.
- He cautioned that supply could increase as parts of the anchor book unlock within a month and pre-IPO holders become eligible to sell over the next six months.
- Q2 FY26 results showed net profit up 12% year-on-year to Rs 471.34 crore with operating revenue down 9% to Rs 1,018.74 crore as NSE active clients slid to 11.9 million following SEBI’s F&O curbs.
- On the earnings call, Groww stressed product expansion—rolling out commodities, an AI trading tool and bond IPOs—and a growing wealth-management focus, while NDTV noted Zerodha customers accounted for about 20% of Groww IPO applications.