Groww Launches '915', Premium Trading Platform for High-Volume Traders
Groww, India's leading stockbroker by active investors, is expanding its services to attract wealthier and more sophisticated clients. This move comes amidst increased regulatory scrutiny in the Indian stock broking industry.
Groww's latest offering is '915', a web-only trading platform designed for high-volume and professional traders. Developed internally, 915 boasts advanced tools such as historical straddle charts, customizable dashboards, low-latency execution, and setup sharing for fellow traders.
The platform will operate on a subscription-based model for premium features, with brokerage fees remaining in line with Groww's primary platform. Users can expect to pay for access to these advanced tools, a departure from Groww's traditional free brokerage model.
Groww's expansion into a more sophisticated trading platform is part of its plan to raise between $700 million and $1 billion through an IPO, targeting a valuation between $7 billion and $8 billion. The company has already confidentially filed its draft red herring prospectus (DRHP) with SEBI in late May. With this move, Groww aims to cater to a wider range of clients and solidify its position as a major player in the Indian stock broking industry.
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