Groww beats BSE market cap as scarcity sparks a scramble

ers hold another 27.81%.

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Groww is slated to release its September quarter results on Friday, which could again move the share price.

(BLOOMBERG)

The brokers added that until lock-in of part of the anchor investor portion takes place early next month, the share supply could remain tight. Half of the anchor investor portion of 298.4 million shares will be unlocked on 10 December. The lock-in for the remaining 50% will end after 90 days from the date of allotment, which was 10 November. Anchor investors are large institutional buyers that buy company shares before it goes public.

"Until then, traders selling the shares can get trapped by bidders fully aware of the prevailing tight supply, forcing the former to square off at higher prices," said a broker on condition of anonymity.

"Valuations look absurd currently and prices will moderate once the anchor lock-in ends," said Ambareesh Baliga, independent market analyst.

Groww is slated to release its September quarter results on Friday, which could again move the share price.