Groww Parent Surges in Debut After $752 Million India IPO (2)

Billionbrains Garage Ventures Ltd., the parent of India’s top discount broker Groww, surged in its trading debut on Wednesday after raising $752 million in an initial public offering, defying the recent trend of tepid listings like Lenskart Solutions Ltd.

Shares of the company, backed by investors including Microsoft Corp. Chief Executive Officer Satya Nadella, rose 31% in Mumbai. It is the second-strongest performance this year among Indian IPOs that raised at least $500 million. The stock closed at 131.33 rupees, giving Groww a market value of 811 billion rupees ($9.1 billion).

The listing follows a volatile opening day ...