
Shares of Billionbrains Garage Ventures, the parent company of discount brokerage platform Groww, slipped as much as 4% on Tuesday, December 9.
At around 1.34 PM, Billionbrains Garage was trading 3.04% lower at ₹146.98, against the previous close of ₹151.64 on NSE. The counter touched an intraday high and low of ₹152.29, and ₹144.20, respectively.
Groww shares are 47% higher from their issue price of ₹100. The stock now has a market capitalisation of ₹90,814 Crore.
This development in share price comes ahead of December 10, when the one-month shareholder lock-in period for the company’s shares end.
In Tuesday’s session, the company witnessed trading volume of 2.95 Crore shares at an average price of ₹146.77 per piece.
According to brokerages, about 14.92 Crore or 2% of the company’s outstanding equity will become eligible for trading once the lock-in period ends.
The note also highlighted that this does not mean that these shares will be sold immediately. It simply implies that they will become available for trade.
Groww recently marked its debut on the stock exchanges with a 12% premium to its issue price and closed the listing with an uptick of 30%. The company’s IPO was subscribed 17.6 times of the total offer for subscription. The company placed 36.47 Crore shares for offer, however, received 641 Crore bids.
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