MUMBAI, Nov 3 (Reuters) - Three large sovereign funds,

including Norway's Norges Bank Investment Management, Abu Dhabi

Investment Authority and GIC of Singapore are among the

investors participating in the IPO of Indian stock broker

Groww's parent Billionbrains Garage Ventures', two

sources directly aware of the matter said.

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 fund raising in the

primary market.

The firm's 66.3 billion rupees ($754 million) IPO opened for

large institutional investors, called anchor investors in Indian

regulatory parlance, on Monday.

Groww has set a price band of 95-100 rupees per share for

the IPO, valuing the firm at around $7 billion at the upper end.

The share sale opens for all investors on Tuesday and closes on

November 7.

The total size of the anchor investment book is set to be

29.50 billion rupees ($335.63 million) with shares being issued

at the upper end of the price band, the two sources added.

Reuters could not determine the size of individual

investment by the three sovereign funds.

Close to 40 investors including local banks, mutual

funds and foreign portfolio investors will participate in the

anchor investment round, one of the sources said.

Groww did not respond to an email from Reuters.

Abu Dhabi Investment Authority declined to comment, while

Groww, GIC of Singapore and Norges Bank Investment Management

did not respond to Reuters mail seeking comment.

Bengaluru-based Groww, which had 14.38 million active users

on its platform as of June 30, competes with local rivals such

as Zerodha and Angel One, in the country's

fast-growing capital market.

Existing shareholders, including Tiger Global and Peak XV

Partners, are selling a total of 557.2 million shares in the

IPO, compared with 574.2 million shares disclosed in September.

Groww is also issuing new shares worth 10.6 billion rupees

($120.60 million).

($1 = 87.8950 Indian rupees)