Groww share price jumped 6.5% on Dalal Street in Monday’s trade after foreign brokerage Jefferies initiated coverage on the stock, backing the Bengaluru-based financial services firm’s growth prospects across its broking business, new initiatives and margin expansion.
Jefferies has set a target price of ₹180, which implies an upside of nearly 12% from the stock’s closing price on Friday. The brokerage said Groww has multiple growth levers that could support an earnings per share (EPS) CAGR of 35% over the FY26–FY28 period.
The stock has climbed sharply almost 72% since listing and is now trading close to double its issue price of ₹100. Today is the third straight session of gains for the stock. It rose almost 12% in the previous session.
Groww’s parent company, Billionbrains Garage Ventures, made its Dalal Street debut at a 14% premium over the IPO price of ₹100 per share. The company’s ₹6,632-crore initial public offering saw strong investor interest, with the issue being subscribed nearly 18 times overall.
