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Lalit Keshre, cofounder and CEO of funding platform Groww, has develop into a newly-minted billionaire on the again of the corporate’s robust inventory market debut.
Groww founder and CEO Lalit Keshre is now a billionaire.(X/Lalit Keshre)
With Groww’s shares hovering since itemizing, Keshre’s 55.91 crore shares — a 9.06 p.c stake — at the moment are valued at about ₹9,448 crore, inserting his web price across the $1-billion mark.
A powerful market debut for Groww
Groww made a outstanding entry into the general public markets on 12 November, itemizing at ₹100 a share and climbing greater than 70 p.c in simply 4 periods to succeed in ₹169. The rally has pushed the fintech agency’s market capitalisation past ₹1 lakh crore.
It has additionally turned the co-founder and CEO of funding platform right into a billionaire, in response to a Moneycontrol report.
Lalit Keshre’s rise
Lalit Keshre’s rise to a billionaire is made all of the extra spectacular by his humble beginnings.
Born to a farmer in Lepa, a distant village in Madhya Pradesh, Lalit Keshre spent his early years removed from the privileges of metropolis life. With no English-medium faculty out there domestically, his dad and mom despatched him to Khargone, the place he lived along with his grandparents so he might proceed his training.
(Also learn: From small MP village to a robust IPO debut: Groww CEO Lalit Keshre’s inspiring journey)
Keshre went on to crack the Joint Entrance Exam and safe a spot at IIT Bombay, the place he accomplished each his bachelor’s and grasp’s levels in expertise. He started his skilled journey at Flipkart as one among its early product managers, serving to form the Flipkart Marketplace earlier than deciding to strike out on his personal in 2016.
That identical 12 months, Keshre joined arms with fellow Flipkart alumni — Harsh Jain, Ishan Bansal and Neeraj Singh — to launch Groww. Under his management, the platform rapidly attracted the eye of prime international traders together with Tiger Global, Sequoia Capital and Ribbit Capital. Groww entered the Unicorn membership in 2021 after crossing a $1-billion valuation, and exceeded $3 billion by 2023, firmly cementing its place in India’s fast-growing fintech sector.
