AssetGro Fintech plans Rs 2,000-2,500 crore IPO filing with Sebi

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AssetGro Fintech, operating the StockGro advisory platform, plans to file for an IPO valued between ₹2,000-2,500 crore with the Securities and Exchange Board of India using a confidential route. The IPO will include a fresh issue of about ₹800 crore alongside an offer for sale by existing shareholders.

Mumbai: AssetGro Fintech, which operates stock market research and advisory platform StockGro, is likely to file draft papers with the Securities and Exchange Board of India (Sebi) through the confidential route for a ₹2,000-2,500 crore initial public offering (IPO), people familiar with the matter told ET.The Bengaluru-based fintech startup could file the draft red herring prospectus (DRHP) before the end of September, the people said.The proposed IPO is likely to include a fresh issue of around ₹800 crore, with the balance comprising an offer for sale (OFS) by existing shareholders.Read more: Gautam Adani reclaims top spot as India’s richest, edges out Mukesh Ambani: Hurun Rich ListEmirates NBD Capital is the book-running lead manager to the issue.AssetGro and Emirates did not respond to emails.The confidential filing route allows companies to submit draft IPO documents to Sebi without making them immediately available in the public domain. The offer documents are subsequently made public as companies move closer to launching the IPO.Read more: NSE IPO shares all set to list: GMP signals 2% listing gain ahead of market debutFounded in 2020, StockGro offers stock analysis, strategy-building and portfolio-tracking tools, along with trade ideas backed by Sebi-registered research analysts. The platform also allows users to research and track stocks and build investment strategies.