Groww information IPO papers, eyes $1 billion

BENGALURU: Funding platform Groww has confidentially filed for an IPO with markets regulator Sebi, a newspaper commercial confirmed on Monday. The providing is anticipated to boost between $700 million and $1 billion by means of a mixture of contemporary challenge and a proposal on the market, folks accustomed to the matter mentioned. The proceeds might be used to put money into tech and broaden the corporate’s monetary providers footprint.As of March, it accounted for over 26% of the lively shopper base on NSE, with 1.3 crore buyers, up from 9.5 million a 12 months earlier. Sources added that Groww is in superior talks to boost $100-150 million every from Singapore funding agency GIC and Iconiq at a $7 billion post-money valuation.