Investment advisory startup StockGro pre-filed its draft red herring prospectus with the Securities and Exchange Board of India on September 26, aiming to raise between ₹2,000 crore and ₹2,500 crore through an initial public offering. The IPO could include a fresh issue of around ₹800 crore and an offer for sale by existing shareholders, according to inc42.com.
StockGro’s parent company, AssetGro Fintech Ltd, submitted the confidential pre-filing under SEBI’s route for BSE and NSE listings. The final issue size and structure may change during the IPO process. The startup raised ₹150 crore in a Series B round from Mukul Agrawal, founder of Param Capital, and $13 million in a Series B1 round from BITKRAFT Ventures last December, inc42.com reported.
StockGro operates a fintech platform that combines stock-market research with a social layer, enabling users to track stocks, study portfolios, follow investors, and interact with market experts. It also provides research and trade ideas from SEBI-registered analysts and recently launched Stoxo, an AI-powered research assistant to aid users in market analysis. This positions StockGro among emerging fintech startups leveraging AI to enhance investment advisory services, inc42.com noted.
The company’s IPO filing on September 26 marks a significant step in its growth trajectory, following its recent funding rounds and product expansions. The final IPO details will be disclosed as the process advances, with StockGro seeking to capitalize on growing investor interest in fintech platforms.