Groww shares fall 4% on Rs 1,500 crore block deals; key details

Billionbrains Garage Ventures Ltd (Groww) shares tumbled over 4 per cent in Tuesday’s trade as around 7.78 crore shares changed hands in two block trades worth nearly Rs 1,500 crore, accounting for about 1.2 per cent of the company’s total outstanding equity, according to Bloomberg data.

The stock fell 4.02 per cent to hit a low of Rs 190.70 apiece, the worst-performer on Nifty Midcap 100. It was the most-traded stock by volume on BSE 500, with trading volume volume rising 2.6 times its three-month full-day average, as per Bloomberg. Buyers and sellers of the deals are not immediately known.

Around 7.52 crore Groww shares changed hands at Rs 193.45 apiece for Rs 1,450 crore. Besides, 26.10 lakh Groww shares changed hands at Rs 193.10 apiece for Rs 50.32 crore.

As per NSE active clients data for July, India’s broking industry saw muted growth in July, adding around 8,000 net active clients during the month. That said, Groww added 70,119 clients, according to NSE data. Groww’s active client base rose to 1.31 crore, taking its market share to 28.88 per cent, up from 28.72 per cent in June.

Zerodha’s active client base, during the same month, declined 38,725 to 67.6 lakh, while Angel One remained largely flat at 66.30 lakh after adding 286 net new additions of clients. Their market shares stood at 14.88 per cent and 14.60 per cent, respectively.