Groww parent firm files IPO papers via confidential filing route; seeks to raise up to $1 billion

Billionbrains Garage Ventures, the parent company of stock broking firm Groww, has filed draft papers with Sebi for an initial public offering (IPO) through a confidential pre-filing route, with an aim to raise between USD 700 million and USD 1 billion, said industry sources familiar with the development.

The IPO is a combination of a fresh issue of equity shares and an offer for sale (OFS) component, they added.