Ashneer Grover Discloses His Secret to Making Rs. 2.25 Million in Just 8 Minutes! Learn More

As of December 2022, Ashneer Grover's total net worth was about $105 million.

Dec 28, 2022 - 14:28
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Ashneer Grover Discloses His Secret to Making Rs. 2.25 Million in Just 8 Minutes! Learn More

Ashneer Grover, an Indian businessman and former co-founder and managing director of BharatPe, has disclosed how he got Rs 2.25 crore from the Zomato IPO within 8 minutes of its launch in July of last year.

Grover claimed in his biography, "Doglapan," that he received an allocation of shares worth more than Rs 3 crore in the Zomato IPO, which was more than 30 times oversubscribed.

"Based on grey-market premiums, my RMs (relationship managers) anticipated the Zomato share to list between Rs 85 and Rs 90 as opposed to an issue price of Rs 76. But I was positive that it would perform much better. I instructed them to sell all of my shares when the share price opened on the day of the listing at Rs "He composed.

By the time the trade got executed, "I got a selling price of Rs 136 per share. With my landing cost after interest being between Rs 82-85, 1 ended up making over Rs 2.25 crore," he said. "Within eight minutes of the Zomato IPO opening, I had made over Rs 2.25 crore."

Grover claimed that after the Zomato IPO, he had a slight case of greed.

I invested in the Car Trade IPO, but I lost Rs. 25 lakh there, he claimed.

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