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Upstox begins preparations for potential IPO
Trade Brains··19 Aug
Upstox has reportedly begun talks with investment banks about a potential initial public offering that could raise around 400 million dollars, according to a Bloomberg report. The Mumbai-based discount brokerage, founded in 2009, is expected to appoint advisers soon and would become the second major Indian brokerage to list within a year if the listing proceeds.
Prism
What It Means For You
- Existing Upstox investors, including those in later funding rounds, could see a path to liquidity through this listing.
- A successful IPO could open a new investment option for retail investors interested in India's fintech and broking sector.
- Increased competition among listed brokerages may influence trading fees and services offered to retail investors industry-wide.
What's Happening
- Upstox has reportedly started talks with investment banks about an IPO that could raise around 400 million dollars.
- The company is expected to appoint advisers soon as part of its preparations to go public.
- Upstox ranks fifth among Indian brokerages by active clients, with about 1.9 million users as of July 31.
How Upstox Compares to Groww's Recent Listing
- Groww became the first major Indian brokerage to list this cycle with a 6,630 crore rupee IPO in November.
- Upstox was founded in 2009 by Ravi Kumar, Kavitha Subramanian and Shrini Viswanath and is headquartered in Mumbai.
- The company is backed by investors including Tiger Global and Ratan Tata, having raised about 220 million dollars across six rounds.
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