Markets regulator SEBI got an application for growth from investment platform Groww, revealed in a Monday newspaper ad. The plan is for the offering to bring in between $700 million and $1 billion from both a fresh issue and an offer for sale, according to sources. The money will go into tech and allow the company to offer more financial services.
At the end of March, NSE’s active client base was mainly made up of demat accounts, with 1.3 crore investors registered, compared to just 9.5 million investors in March of last year.
Also read- OpenAI and Jony Ive Sign a $6.5 Billion Agreement to Develop A.I. Devices
It is said that Groww is currently in advanced talks to secure $100-150 million each from GIC and Iconiq with a $7 Billion company valuation.
