Groww Expands Services with commodities Trading โLaunch Ahead of IPO
Stockbroker Growwโฃ has begun offering commodities trading on its platform, allowing its active trading accountโฃ holders to invest in crude oil, gold, silver, and natural gasโค through the Multi Commodityโ Exchange from 9 am to 11:30 pm. โThe move signals continued diversification of Groww’s wealth and capital markets offerings.
the launch comes as Indian investors increasingly seek to diversify portfolios and hedge againstโ market volatility through commodities.Groww has recently introduced several new services, including corporate bonds, a Margin Trading Facility, the pro-trader platform 915, and wealth management offering W (following the acquisition of Fisdom).
Groww currently serves over 18 million active customers. Simultaneously, the company’s parent, Billionbrains Garage Ventures, has filed updated draft papers with the โSecurities and Exchange Board of India (Sebi)โค for an Initial Public Offering (IPO). The โขIPO is estimated at Rs โ7,000 crore, comprising a fresh issue of equity shares worth Rs 1,060 โฃcrore and an Offer Forโ Sale (OFS) of 574,190,754 equity shares by โคpromoters and investor shareholders, as detailed in the updated Draftโ Red โHerringโข Prospectus (DRHP).