Founders Eye $1.9 Billion Wealth Boost in India’s Groww IPO (1)

Lalit Keshre remembers how hard it was to buy his first stock for less than a dollar as a student in Mumbai in 2002.

After working at several ventures, he co-founded online broker Groww nine years ago with three colleagues from Flipkart, one of India’s biggest e-commerce firms.

Groww, slated for an initial public offering next week, is now poised to leave the quartet with stock worth over $1.9 billion at the top end of the price band. The value of Keshre’s stake alone will be worth over $650 million, based on the issue size and calculations from the ...