Groww, India’s largest retail stockbroker, is preparing to file for an IPO in 10 to 12 months, seeking a valuation between $6 billion and $8 billion, sources familiar with the matter told TechCrunch.

With the Securities and Exchange Board of India (Sebi) cracking down on excessive speculation in the stock markets, platforms like Groww are expected to report a sharp hit on their gross revenues.Also Read: Discount brokers board margin funding biz with revenue channels under lensBumper Apple crop!

Bengaluru-based stockbroking giant Groww is in talks with a number of investment bankers for its initial public offering (IPO), according to Moneycontrol. The company plans to raise around $700 million through the offering, with a valuation of somewhere between $7 billion and $8 billion.