India, Nov. 12 -- Groww parent Billionaires Garage Ventures Ltd. has listed at a premium. That gave India's largest online broker a market capitalisation of more than Rs.70,000 crore.

Groww's share price rose as much as 21% over the IPO price of Rs.100 to Rs.120.50 on the BSE even as the benchmark Sensex traded half-a-percent up. That, after the Rs.6,630-crore Groww IPO was subscribed more than 17 times.

The listing comes in the wake of a volatile opening day for Lenskart Solutions Ltd., which had triggered a debate about lofty valuations. Groww's debut may help ease concerns that the nation's hot IPO market is set to slow down after some recent mixed debuts.

At the IPO price of Rs.100/share, Groww had a price-to-earnings ratio of 34, ...