Groww files IPO papers, eyes $1 billion

BENGALURU: Investment 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 situation and a proposal on the market, folks accustomed to the matter mentioned. The proceeds can be used to spend money on tech and develop the corporate’s monetary companies footprint.As of March, it accounted for over 26% of the lively consumer base on NSE, with 1.3 crore traders, 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.