Wealth-tech firm Groww has received bids worth Rs 50,000 crore from large domestic mutual funds and foreign funds before the IPO opens for public on November 4, according to a couple of banking sources.

The anchor book, estimated at around Rs 3,000 crore, has been oversubscribed more than 15 times, with participation from eight out of the 10 large mutual funds, including SBI Mutual Fund, and major US investors such as Sequoia Capital, Dragoneer Investment Group, and Coatue Management.

The demand from a mix of Indian and foreign crossover funds underscored the strong demand for one of the India's largest and most profitable fintech startups.

The Rs 6,632 crore initial public offering (IPO) from one of India’s most profitable startups will value the Bengaluru-based brokerage firm at aroun

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