Groww files confidential IPO papers, seeks to raise up to $1 billion

Stock broking firm, Groww has confidentially filed for an IPO with SEBI, aiming to raise $700 million to $1 billion. The IPO will include a fresh issue of shares and an offer for sale. With a 26% market share and a rapidly expanding client base, Groww intends to use the IPO proceeds for technology development and business expansion.