Grow owner’s wealth
Many IPOs keep knocking in the stock market every day. Some of them become hits and some flop miserably. The one thing that is common in both these situations is their discussion. That is, even if investors get listing gains and it goes at a discount, there is still discussion. Currently, such positive discussion is going on about Grow. Their owners are also making headlines. Because, the company’s IPO has been a hit and has made the farmer’s son the owner of billions. Let us tell you about the owner of Grow and also know about the recent performance of the company.
Lalit Keshare, co-founder and CEO of investment platform Groww, has now joined the billionaire’s club. After the company’s great debut in the stock market, it has joined the billionaire club of India. The emergence of a farmer’s son from Lepa village in Madhya Pradesh as the head of a leading fintech firm reflects the growing opportunities in India’s startup landscape.
Status of company shares
Keshare currently holds 55.91 crore shares, which is 9.06 percent stake in Grow. Shares of Grow’s parent company also closed with a rally today. A rise of about 17 percent has been seen in the company’s stock. The value of his stake in the company is Rs 9448 crore, which takes him to the figure of approximately 1 billion dollars. Listed at Rs 100 per share on November 12, the stock has jumped more than 70 per cent in four sessions and its market cap has crossed Rs 1 lakh crore. Which is one of the strongest starts in recent times.
This is how GRO was established
Grow was founded in 2016 by Flipkart employees. It was done by Keshre, Harsh Jain, Ishaan Bansal and Neeraj Singh. Keshare, now 44, grew up in modest circumstances, living with his grandparents and attending the only English-medium school in Madhya Pradesh’s Khargone district. After completing his schooling, he learned about the Joint Entrance Examination (JEE) and got admission in IIT Bombay, from where he obtained bachelor’s and master’s degrees in technology. He started his career at Flipkart, where he was one of the early product managers overseeing the Flipkart Marketplace and then went on to launch Grow with his partners in 2016.
This listing has also registered a significant increase in the wealth of the other three founders. Harsh Jain’s 41.16 crore shares are currently worth Rs 6956 crore, Ishaan Bansal’s 27.78 crore shares are worth Rs 4695 crore and Neeraj Singh’s 38.32 crore shares are worth Rs 6476 crore.