MUMBAI, Nov 3 (Reuters) - Indian stockbroker Groww has sold shares worth 29.85 billion

rupees ($339.61 million) to anchor investors, including sovereign investors of Norway, Abu Dhabi

and Singapore, as part of its $754 million IPO.

Shares of Billionbrains Garage Ventures, Groww's parent, were allotted at the

top of the 95 rupees to 100 rupees price band, an exchange filing showed late on Monday.

Groww, which competes with Zerodha and Angel One in India's fast-growing

capital market, is targeting a valuation of about 617 billion rupees ($7 billion) through its

IPO.

In Monday's anchor book, Abu Dhabi Investment Authority was allocated shares worth 1.40

billion rupees, while Norway's Government Pension Fund Global committed 1.6 billion rupees.

Singapore's GIC invested 1.4 billion rupees and the Monetary Authority of Singapore

bought shares worth 402.6 million rupees.

Seventeen domestic mutual funds bought about 46.6% of the shares earmarked for anchor

investors, with Nippon, HDFC and Kotak funds among the biggest buyers.

The IPO will rank among the largest offerings so far in 2025, following floats by the likes

of Tata Capital, LG Electronics India and HDB Financial, in what

is expected to be a record year for fundraising in the primary market.

The three-day share sale opens to all investors on Tuesday, during a holiday-shortened

trading week for Indian stock markets, and closes on November 7.

Bengaluru-based Groww, which had 14.38 million active users on its platform as of June 30,

will issue new shares worth 10.6 billion rupees in the IPO. Existing shareholders, including

Tiger Global and Peak XV Partners, are selling a total of 557.2 million shares.

($1 = 87.8950 Indian rupees)