How did a farmer’s son become a billionaire? When the company got listed in the market, it rained a lot of money.

New Delhi. Lalit Keshare, co-founder and CEO of BillionBrains Garage Ventures Limited, the parent company of investment platform Groww, has now joined the list of billionaires. Keshare’s wealth has increased significantly since the company was listed in the market. Keshare currently holds 55.91 crore shares of Groww, which makes his 9.06 percent stake in the company. After the share price reached a record ₹ 178, the value of Kesare’s stake has become ₹ 9951 crore. Born in a farmer family in Lepa village of Madhya Pradesh, Keshare’s success reflects the growing opportunities in India’s startup ecosystem.

Groww’s shares were listed on November 12 at an issue price of ₹100. It has increased by 78 percent in just four sessions and the market cap of the company has crossed ₹ 1 lakh crore. Groww was founded in 2016 by Lalit Keshare, Harsh Jain, Ishaan Bansal and Neeraj Singh. 44 year old Keshare grew up in ordinary circumstances. He lived with his grandparents and studied in the only English-medium school in Khargone district of Madhya Pradesh.

The first startup failed

Grow is the platform with the highest number of active users (1.19 crore) in the country. Co-founder and CEO Lalit Keshare has a big role behind this success. It is not that Lalit was successful in his first attempt. His first startup failed and he was burdened with debt. He repaid this loan by working in Flipkart. Started the first startup ‘Eduflix’ in 2011. At that time the internet was expensive and limited, so they sold course material in pen drives and memory cards. However this startup was unsuccessful.

This is how the idea of ​​making GRO came

Lalit Keshare decided to invest in the stock market. He bought shares. But, the paper formalities and lengthy process required to buy shares surprised him. Then he thought, if an engineering educated person can face so much difficulty in buying shares then how difficult it would be for a common man. It was from here that the idea of ​​making investment easier came to his mind, which later took shape as ‘Groww’.

The foundation of GROW was laid in 2016

While working in Flipkart in 2016, he told his idea to Harsh Jain. Harsh liked Keshare’s idea. After this Neeraj Singh and Ishaan Bansal also became part of the team. All four together started ‘Groww’. Today, Groww has more than 1.19 crore active users and is India’s number-1 online brokerage platform. The market capitalization of Grow has crossed Rs 1 lakh crore today.

Harsh, Bansal and Neeraj also benefited greatly from the listing.

The listing of Groww has also rapidly increased the wealth of the remaining three co-founders. Harsh Jain’s 41.16 crore shares are currently worth ₹7000 crore, Ishaan Bansal’s 27.78 crore shares are worth ₹4,695 crore, while Neeraj Singh’s 38.32 crore shares are worth ₹6,476 crore.