Stock Broking Company Growww Will bring your IPO. The company has secretly filed DRHP near SEBI. People who are aware of the case said on Monday that the ‘Stock Broking’ company filed documents before the Securities and Exchange Board of India (SEBI) through a confidential route. The estimated size of the IPO can range between $ 70 million to one billion dollars. This will be a combination of new issues and sales offers (OFS). After all, why did Gro choose the way to file an IPO secretly? Why do companies do this? Let’s know.
What does it mean to file DRHP secretly?
When a company secrets the draft Red Herring Prospects (DRHP) to SEBI instead of publishing it, it means that it sends SEBI for a document review, but does not make it public immediately. The concept of confidential filing in India was launched in November 2022.
After all, why do companies do this? Let’s know.
- There is time to get the market sentiments to be seated: The company wants to assess the market status whether this is the right time to bring the IPO.
- Business and strategy remain hidden: Competitors do not immediately know the company’s strategy, expansion plan or financials.
- The way to cancel the IPO is open: If the company decides not to bring the IPO later, then its reputation would not be affected because DRHP has never been public.
- Private interactions with potential investors: The company can have a private interaction with some big investors before the IPO, so that a better anchor book can be prepared.
- Review of reforms in review process: If SEBI makes a suggestion or asking for a change, the company can already fix it silently, without damaging public image.
Investors like Satya Nadella, Tiger Capital
People familiar with the case said that the company has the support of prominent investors like Peak XV, Tiger Capital and Microsoft Chief Executive Officer (CEO) Satya Nadella. The company is planning to use the amount received from the IPO for technology development and investment in business expansion.
This banker will manage IPO
To manage this issue, Grow has appointed JP Morgan India Private Limited, Kotak Mahindra Capital Company Limited, Citigroup Global Markets Private Limited, Axis Capital Limited and Motilal Oswal Securities Limited. Grow was established in 2016. It became the fastest growing retail broking platform in India in FY 2024-25, which had more than 26 percent market share by March 2025.
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