India's largest online couponing company's parent company has launched an IPO, with an estimated valuation of up to $7 billion.

The parent company of India's largest online discount broker Groww, Billionbrains Garage Ventures, will launch its IPO investor subscription on Tuesday, with an expected raise of up to 66.3 billion rupees. The company will issue shares before Friday at a price range of 95 to 100 rupees per share, which would give the company a valuation of around 7 billion dollars if priced at the upper end. The stock is expected to start trading on November 12. As the Indian version of Robinhood, Groww has received support from Microsoft CEO Nadella. The company has seen a rapid increase in customer numbers in recent years, with nearly 12 million active users as of September. The IPO comes at a time of prosperity in the Indian market, which saw record levels in October. Based on the upper end of the price range, Groww's valuation is around 30 times its earnings as of the end of the March fiscal year.