Zerodha co-founder Nithin Kamath extended his congratulations to Lalit Keshre, CEO of rival brokerage Groww, on their IPO, noting that around 20% of Groww IPO applications came from Zerodha customers. Both firms are among India’s largest brokerages by client base.
Kamath shared on X, “Congrats on the IPO Lalit Keshre & team, and best of luck. Btw, about 20% of all Groww IPO applications are from Zerodha online customers.” Keshre replied, thanking him for the wishes.
Groww, under Billionbrains Garage Ventures Ltd, priced its IPO between ₹95 and ₹100 per share, raising ₹6,632.3 crore. On the second day of bidding, the issue was 1.36 times subscribed, with retail investors leading at 4.46 times, NIIs at 1.76 times, and QIBs at 0.14 times. Prior to the IPO, the company secured ₹2,985 crore from anchor investors, including HDFC MF, Kotak MF, Nippon India, SBI MF, and Axis MF.
The IPO closes on November 7, with allotment expected on November 10 and listing on November 12 on BSE and NSE.
