Groww set to launch Rs 7,000 crore IPO in November

Brokerage Groww is looking to launch its ₹7,000-crore Initial Public Offering (IPO) in the first week of November, said banking sources in the know. The Bengaluru-based firm, backed by Microsoft Chief Executive Officer Satya Nadella, is expected to announce the price band for its issue by the end of October, they said.

Billionbrains Garage Ventures, Groww's parent, is targeting a valuation of up to $8 billion (approximately ₹70,400 crore) in its IPO. Kotak Mahindra Capital, JP Morgan India, Citigroup Global Markets India, Axis Capital, and Motilal Oswal Investment Advisors are the book-running lead managers to the IPO.