Groww Launches Commodities Trading – IPO News
- Groww, a prominent investment platform, has filed updated draft papers with the Securities and Exchange Board of India (SEBI) for an Initial Public Offering ( IPO)....
- The proposed IPO will consist of two components: a fresh issue of equity shares worth ₹1,060 crore and an Offer For Sale (OFS) of 574,190,754 equity shares by...
- As of the latest reports,groww boasts over 18 million active customers.
Groww files Updated IPO Papers with SEBI, Targeting ₹7,000 crore
Table of Contents
Published October 16, 2023, 19:31:34
Groww’s IPO Plans
Groww, a prominent investment platform, has filed updated draft papers with the
Securities and Exchange Board of India (SEBI)
for an Initial Public Offering (
IPO). Industry sources estimate the issue size at approximately ₹7,000 crore (roughly $84 million USD as of October 16, 2023).
The proposed IPO will consist of two components: a fresh issue of equity shares worth ₹1,060 crore and an Offer For Sale (OFS) of 574,190,754 equity shares by existing promoters and investor shareholders, as detailed in the updated Draft Red Herring Prospectus (DRHP).
Groww’s Customer Base and Growth
As of the latest reports,groww boasts over 18 million active customers. This significant user base underscores the platform’s growing popularity in the Indian investment market.
Background on Groww
Groww is an online investment platform that allows users to invest in stocks, mutual funds, etfs, and other financial products. The platform is known for its user-friendly interface and low fees, making it a popular choice for both beginner and experienced investors.