Tiger Global-backed broking firm Upstox said to plan India IPO

Upstox, a broking firm backed by the investment firm Tiger Global, is reportedly planning to list on the Indian stock market through an initial public offering. This move would allow the company to raise approximately $400 million from both new and existing investors. The IPO could be significant for the Indian market, following the successful listing of Groww last year, and would further solidify Upstox's status as a unicorn company after reaching it in 2021.

Why it matters

Upstox's planned IPO could indicate a growing trend of Indian companies going public. This trend could attract more investors and increase market activity.

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