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What is the story about?
Billionbrains Garage Ventures Ltd., parent company of the online trading platform Groww, has received bids worth over ₹50,000 crore as part of its anchor book, sources with knowledge of the matter told CNBC-TV18.
Top mutual funds, along with major foreign investors are participating in the anchor book, sources added.
Norges Bank, The Abu Dhabi Investment Authority (ADIA), Sequoia Capital, Coatue, Dragoneer are some of the investors part of the ₹2,950 crore anchor book, the sources added.
Official details of the anchor book will be released later tonight.
Retail investors can bid for one lot of 150 shares, which will entail a minimum investment of ₹15,000 and then in multiples of 150 thereof.
75% of the offer is reserved for institutional investors, 15% for non-institutional, and 10% for retail. The issue is a mix of fresh issue of shares worth ₹1,060 crore and an Offer For Sale (OFS) component for the rest.
At the upper end of the price band, Groww will be valued at ₹61,736 crore.
Groww's ₹6,632 crore IPO will open for subscription on Tuesday, November 4, with the issue priced between ₹95 per share to ₹100 per share.
Top mutual funds, along with major foreign investors are participating in the anchor book, sources added.
Norges Bank, The Abu Dhabi Investment Authority (ADIA), Sequoia Capital, Coatue, Dragoneer are some of the investors part of the ₹2,950 crore anchor book, the sources added.
Official details of the anchor book will be released later tonight.
Retail investors can bid for one lot of 150 shares, which will entail a minimum investment of ₹15,000 and then in multiples of 150 thereof.
75% of the offer is reserved for institutional investors, 15% for non-institutional, and 10% for retail. The issue is a mix of fresh issue of shares worth ₹1,060 crore and an Offer For Sale (OFS) component for the rest.
At the upper end of the price band, Groww will be valued at ₹61,736 crore.
Groww's ₹6,632 crore IPO will open for subscription on Tuesday, November 4, with the issue priced between ₹95 per share to ₹100 per share.
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