Stockbroker Groww launches commodities trading services on platform ahead of IPO

Investment tech unicorn groww on Thursday launched commodities trading on its platform, expanding its wealth and capital markets offerings.

Groww users with active trading accounts can now trade commodities like crude oil, gold, silver, and natural gas via MCX from 9:00 AM to 11:30 PM, according to the platform’s website.

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In India, traders are increasingly turning to commodities to diversify portfolios and hedge against market volatility.

In recent months, IPO-bound Groww has rolled out several capital markets offerings as part of its strategic diversification.

These include corporate bonds, Margin Trading Facility, 915 (for pro traders), and W, a wealth management platform acquired via Fisdom. The company currently serves over 18 million active customers.

Founded in 2016 by Lalit Keshre, Harsh Jain, Neeraj Singh and Ishan Bansal, Groww positions itself as a full-stack financial platform offering mutual funds, stockbroking, asset management, margin trading and wealth management solutions. The platform claims over 1.8 crore active users.

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Last month, Billionbrains Garage Ventures, Groww’s parent company, filed updated draft papers with SEBI for an IPO, with industry sources estimating the issue size at around ₹7,000 crore.

The proposed IPO includes a fresh equity issue of ₹1,060 crore and an Offer For Sale (OFS) of 574,190,754 shares by promoters and existing investors, as per the updated Draft Red Herring Prospectus (DRHP).

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