Groww's IPO to open November 4 at 95-100/share price band

MUMBAI: The Rs 6,632-crore initial public offering for Billionbrains Garage Ventures that runs the digital financial services company Groww, is set to open on November 4 and close on November 7.

At the upper end of the Rs 95-100 price band for the IPO, the company is valued at nearly Rs 62,000 crore. The shares are to be listed on NSE and BSE around November 12.Of the total offer size, Rs 1,060 crore will accrue to Groww while a bunch of existing shareholders, mostly private equity players, would get Rs 5,572 crore in total by offloading part of their stakes.Established in 2017, the Bengaluru-based fintech company offers a host of financial and investment products such as stocks, derivatives, mutual funds, IPOs, bonds to retail investors through its digital platform. The company's aim is to offer all types of financial and investment solutions to its customers.