IPO Bound Groww Files Updated DRHP

Brokerage platform Groww on Tuesday evening is learnt as having filed its updated Draft Red Herring Prospectus for its Initial Public Offering.

As per the revised filing, a fresh issue of ₹ 1,060 crore has been reported. The total value of the IPO is estimated in a range of Rs 5,000 to Rs 6,000 crores. With this, the Bengaluru headed brokerage platform was looking at a valuation of $9 billion on the higher side and $7 billion on the lower side per estimates.

The Offer for Sale category is likely to see an exit of marquee investors such as Y Combinator, Peak XV Partners, Ribbit Capital, Tiger Global, and Kauffman Fellows Fund.