New Delhi: Groww’s co-founder and CEO Lalit Keshre has secured a place on India’s billionaires list following the company’s IPO. Listed on November 12, Groww’s stock surged more than 70% from its issue price in four trading days and closed at Rs 174 on Monday, 17 November 2025.
With this surge in the stock, Keshre’s 9.06% stake is now worth Rs 9,448 crore, equivalent to approximately $1.13 billion. Hailing from a small village in Madhya Pradesh, Lalit Keshre’s journey has become a new inspiration in the startup world.
Lalit Keshre’s journey from village to IIT Bombay
Lalit Keshre was born into a farming family in Lepa village, Khargone district, Madhya Pradesh. His father made a living through farming, and Lalit was raised by his grandparents.
The village lacked facilities, but he attended Khargone’s only English-medium school. He then cracked the JEE and went to IIT Bombay, where he earned a Bachelor’s and master’s degree in technology.
Left Flipkart in 2016 to start Groww
Lalit Keshre’s career began at Flipkart, where he was a product manager in the early stages. He then left Flipkart in 2016 to start Groww. This story of 44-year-old Keshre shows that great things can be achieved even from small towns.
Groww was founded by four Flipkart veterans, Lalit Keshre, Harsh Jain, Ishan Bansal, and Neeraj Singh. Their app has connected millions of people to the stock market.
The company’s value exceeded Rs 26,000 crore after the IPO
Groww’s IPO was listed on the BSE and NSE on November 12. Its issue price was set at Rs 100. Following the listing, the company’s shares rose 70% above the issue price in just four sessions. They are now trading at Rs 174 per share, the best debut among recent IPOs.
With this, the company’s overall market valuation, including the founders’ holdings, has reached over Rs 26,000 crore. This performance reflects investor confidence in the fintech sector. Groww plans to invest the funds raised from the IPO in technology and expansion.
After listing, Groww made its founders rich overnight
The value of all the founders’ shares increased after listing. Lalit Keshre holds 559.1 million shares, representing a 9.06% stake. At Rs 170, his shares are now worth Rs 9,448 crore.
Co-founder Harsh Jain’s 411.6 million shares (6.67%) are now worth Rs 6,586 crore. Furthermore, Ishan Bansal’s 277.8 million shares (4.5%) are worth Rs 4,444 crore, and Neeraj Singh’s 383.2 million shares (6.21%) are worth Rs 6,132 crore. These figures indicate that Groww has made its founders rich overnight.
The company was initially valued at $3 billion in private valuation, but the public market strengthened it further.
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