India, May 26 -- Investment tech startup Groww has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) through a confidential pre-filing route.

In a newspaper announcement, Groww said, "This public announcement is being made pursuant to Regulation 59C(5) of the SEBI ICDR Regulations to inform the public that the company has filed the Pre-filed Draft Red Herring Prospectus with SEBI and the Stock Exchanges, under Chapter IIA of the SEBI ICDR Regulations in relation to the proposed initial public offering of its equity shares on the main board of the stock exchanges."

While the size of the IPO wasn't disclosed in the advertisement, an ET report estimated...