Business News

Indian online investment platform Groww has filed draft papers confidentially with the country's markets regulator for an initial public offering between $700 million and $1 billion, two sources said on Monday. The IPO is a mix of fresh issue of shares and existing investors paring some stake, the sources said, adding that the company aims to list in the last quarter of this calendar year. Groww, which was last valued at $7 billion, is eyeing a similar valuation for its public listing, the sources added. A confidential filing allows companies to seek the regulator's comments without disclosing their IPO documents to the public. Groww did not immediately respond to Reuters' request for comment.