Groww share price hits 10% lower circuit on profit booking after 94% rally post-listing
Shares of Billionbrains Garage Ventures Ltd, the parent company of the trading platform Groww, hit a 10% lower circuit for the first time after experiencing a decline in its six-day trading session. On Wednesday, the price band for the shares was adjusted downward to 10% from the previous limit of 20%.
It has been five days since Groww’s stock market debut, and the share price has nearly doubled from its initial public offering (IPO) price of ₹100. By the close of trading on Tuesday, the stock had surged nearly 94% from its IPO price. During Tuesday’s trading session, over 46 crore shares of Groww were exchanged, with only 8.24 crore marked for delivery.
As per Nuvama Alternative and Quantitative Research, approximately 149.2 million…
