Billionbrains Garage Ventures, the parent company of Groww, India's largest online brokerage firm, will launch an IPO investor subscription on Tuesday, which is expected to raise 66.3 billion rupees. The company will sell shares by Friday, and the pricing range is 95 to 100 rupees per share. If the above price limits are calculated, the company's valuation will be as high as 7 billion US dollars. Stock trading is expected to begin on November 12. As the Indian version of Robinhood, Groww received support from Microsoft CEO Nadella. Over the past few years, the number of the company's customers has surged, and as of September, there were close to 12 million active users. The offering comes at a time when India's IPO market is booming. October just hit a record high in a single month. At the upper end of the price range, Groww's valuation is approximately 30 times the earnings for the fiscal year ending March.

Billionbrains Garage Ventures, the parent company of Groww, India's largest online brokerage firm, will launch an IPO investor subscription on Tuesday, which is expected to raise 66.3 billion rupees. The company will sell shares by Friday, and the pricing range is 95 to 100 rupees per share. If the above price limits are calculated, the company's valuation will be as high as 7 billion US dollars. Stock trading is expected to begin on November 12. As the Indian version of Robinhood, Groww received support from Microsoft CEO Nadella. Over the past few years, the number of the company's customers has surged, and as of September, there were close to 12 million active users. The offering comes at a time when India's IPO market is booming. October just hit a record high in a single month. At the upper end of the price range, Groww's valuation is approximately 30 times the earnings for the fiscal year ending March.