AssetGro Fintech Ltd, the parent company of stock market research platform StockGro, has filed preliminary papers with markets regulator Sebi to raise ₹2,000-2,500 crore through an Initial Public Offering (IPO) using the confidential route. According to a public notice dated September 26, the company filed the pre-filed draft red herring prospectus with Sebi and the stock exchanges for the proposed initial public offering of its equity shares on the mainboard of the stock exchanges.
The proposed IPO is expected to comprise a fresh issue of about ₹800 crore, along with an Offer For Sale (OFS) by existing shareholders, as reported by market sources. Under the confidential pre-filing route, companies are allowed to keep their draft offer documents out of the public domain until the regulatory review process reaches a more advanced stage. As a result, details regarding the offer structure, financial performance, valuation and listing timeline are not available at this stage.
The Bengaluru-based company operates StockGro, a platform that offers stock analysis, strategy-building and portfolio-tracking tools. According to reports, it also provides trade ideas from Sebi-registered research analysts. The filing comes amid heightened activity in the country's primary market, with a number of companies exploring public-market listings.
