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.
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