GROWW

Updates share levels, adds brokerage comments in paragraphs 3,8

Feb 16 (Reuters) - Shares of Indian bourse BSE BSEL.NS led losses among bourse and brokerage stocks on Monday, dropping as much as 9.9%, after the country's central bank tightened norms for bank lending to stock brokers and other market intermediaries.

On Friday, the Reserve Bank of India issued revised norms regarding banks' lending to capital market participants, including higher collateral requirements for bank guarantees and a ban on lending for proprietary trading by brokers.

Proprietary trading, which involves using a company's own funds to trade, accounts for 50% of equity options premium turnover, according to Jefferies. Stricter collateral requirements for bank financing to such traders would raise costs.

Stock brokers Groww BILO.NS, Angel One ANGO.NS and Motilal Oswal Financial Services MOFS.NS fell as much as 4.8%, 9.5% and 3.3%, respectively.

The revised norms will take effect from April 1.

The new rules, in conjunction with the recently hiked transaction tax on equity futures and options, are expected to dampen derivative trading volumes. India's federal government and financial regulators have taken several steps to cool the derivative trading market, where retail investors have made losses.

Jefferies pegs BSE as the most affected by the new regulations on proprietary trading, which could result in a 10% earnings impact on the exchange operator.

Angel One would need to "immediately relook" its funding for the margin trading facility, JM Financial analysts said in a note, while Groww may need to raise funds from the market.

(Reporting by Nandan Mandayam in Bengaluru; Editing by Rashmi Aich and Janane Venkatraman)

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-- Note: Reuters has not verified this story and does not vouch for its accuracy

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** Shares of Billionbrains Garage Ventures, parent of Groww BILO.NS, jump ~7% to 175 rupees; on track for best day in a month

** Co reported a 24% yoy rise in Q3 adjusted profit on Jan 14; rev rose 25% yoy

** Shares of BILO rose as much as 3% on Jan 14 after results, closed 1% higher

** Brokerage Jefferies ("buy", hikes PT to 195 rupees from 190 rupees) says new ventures ramping up faster than expected

** Adds adj PAT and rev beat was led by higher-than

expected commodity & margin trading facility revenues

** Brokerage Citi ("buy", PT at 195 rupees) says co delivered solid Q3, market share across segments

** BILO gained ~34% since listing on Nov 12, 2025

(Reporting by Komal Salecha)

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Jan 15 (Reuters) - Indian brokerage Angel One ANGO.NS reported a drop in third-quarter profit on Thursday, as regulatory curbs on equity derivatives designed to prevent speculative trading dampened retail investor participation.

The Mumbai-based company reported a 4.5% fall in its consolidated profit to 2.69 billion rupees ($29.78 million) for the period ended December 31.

Angel One recorded its fourth consecutive quarter of profit decline after markets regulator Securities and Exchange Board of India in late 2024 reduced the number of weekly options contracts and increased the minimum trading amount.

The nearly 30-year-old company, which competes with market leaders such as Zerodha, Groww BILO.NS and Upstox, derives more than 75% of its revenue from derivatives trading.

Angel One said the total number of orders in the December quarter fell about 10% year-on-year, while gross client acquisition dropped 16.3%.

Since the curbs, the company has stepped up its efforts to diversify into margin funding, wealth management, insurance, loan distribution and asset management.

The brokerage's fees and commission income fell 1.7% during the third quarter. However, its total quarterly revenue from operations rose 5.8% to 13.35 billion rupees, helped by an increase in interest income.

Angel One also approved an interim dividend of 23 rupees per share and a share split in 1:10 ratio, according to the exchange filing.

($1 = 90.3340 Indian rupees)

(Reporting by Anuran Sadhu and Meenakshi Maidas in Bengaluru; Editing by Harikrishnan Nair and Shreya Biswas)

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Jan 14 (Reuters) - Billionbrains Garage Ventures Ltd BILO.NS:

• APPROVED EXECUTION OF AGREEMENTS WITH STATE STREET GLOBAL ADVISORS

Source text: ID:nBSE1pQ3tp

Further company coverage: BILO.NS

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** Motilal Oswal initiates coverage on Groww BILO.NS with "Buy" and PT at 185 rupees

** Brokerage says the D2C digital investment platform is well-positioned to compound earnings in a structurally under-penetrated Indian capital markets ecosystem

** Says expanding monetization for affluent clients via the wealth management platform should reduce earnings volatility

** Expects Groww's FY25-28 revenue to grow at 25% CAGR and PAT to grow at 30% CAGR

** Stock currently up 0.26%

(Reporting by Mridula Kumar in Bengaluru)

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Updates with details throughout

Dec 3 (Reuters) - Meesho's MEES.NS $604 million initial public offering was fully subscribed the first day of bidding on Wednesday as retail investors rushed to grab a share of the Indian e-commerce platform amid a booming IPO market.

The company, which is seeking a valuation of up to $5.6 billion, received bids for 429.13 million shares as of 3:32 p.m. IST, against the 277.94 million shares on offer, exchange data showed.

Retail investors bid for 173.64 million shares, more than three-fold the 51.03 million shares set aside for them.

Meesho's listing is the latest in the line of IPOs from technology-driven companies like Groww BILO.NS, Lenskart LENS.NS and PhysicsWallah PHYS.NS taking advantage of a booming primary market.

More than 300 IPOs have raised $19.26 billion in India so far this year, setting the stage for 2025 to be a record year for IPO fundraising, LSEG data showed.

"We believe Meesho's asset-light model, zero-commission structure for sellers and disciplined cost optimisation have enabled rapid user and order growth while steadily improving unit economics," said Rajan Shinde, research analyst at Mehta Equities.

Backed by Softbank and Peak XV Partners, Meesho has already raised about $270 million from anchor investors such as SBI Innovative Opportunities Fund and Government of Singapore ahead of the public launch of its IPO. The offering closes on December 5.

Non-institutional investors bid for 1.38 times the number of shares on offer for them, and the portion set aside for qualified institutional buyers was also fully subscribed.

Meesho's revenue rose 29.4% to 55.78 billion rupees ($622.96 million) in the first half of fiscal 2026, and its losses narrowed 72.1% to 7 billion rupees, according to its IPO prospectus.

"While strong scale momentum supports the growth narrative, near-term profitability remains volatile," Angel One said.

(Reporting by Anuran Sadhu and Vivek Kumar M in Bengaluru; Editing by Janane Venkatraman)

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** Shares of India's Billionbrains Garage Ventures BILO.NS rise 7% to a record high of 186 rupees

** Stock eyes fifth straight session of gains, has climbed every day since listing on November 12

** More than 58 million shares of BILO traded in multiple block deals at premium from last close - as per LSEG data

** Block deals at a premium of 3.3% to 11% from last close

** Co set to report first earnings report since listing on November 21

** Groww surges 66% from IPO issue price of 100 rupees

(Reporting by Komal Salecha)

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** India's Billionbrains Garage Ventures BILO.NS, parent of stockbroker Groww, surges 20% to 120.07 rupees

** Stock opens at 112 rupees on the National Stock Exchange of India, vs the issue price of 100 rupees

** BILO's $754 million IPO was fully-subscribed within hours of opening last week, led by strong demand from institutional and retail investors

** Groww made a good IPO debut, reflecting healthy investor confidence driven by strong brand recall and rapid user growth in the Indian digital investing ecosystem, says Shivani Nyati of Swastika Investmart

** Co raises $127 mln from fresh issue of shares with proceeds to be used for technology investments, brand building, and expanding its margin trading facility, the prospectus shows

(Reporting by Kashish Tandon in Bengaluru)

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