Groww's parent company Billionbrains Garage Ventures, will launch its initial public offering on Nov. 04 and will conclude on Nov. 07. (Photo: Groww YouTube) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Discount stockbroker Groww's parent company Billionbrains Garage Ventures Ltd. raised Rs 2,985 crore from anchor investors on Monday ahead of its IPO, Bloomberg reported. The company allotted 29.9 crore shares to IPO anchors at Rs 100 per share.

Groww's Rs 6,632-crore IPO will open for subscription on Tuesday. The IPO offer consists of a fresh issue of up to Rs 1,060 crore and an offer for sale of 55.7 crore shares worth up to Rs 5,572 crore.

Investors offloading their stake in the platform include Peak XV, Y Combinator, Ribbit Capital, Tiger Global, and Kauffman Fello

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