India, Sept. 16 -- Investment tech unicorn Groww has filed its updated draft red herring prospectus (UDRHP) with SEBI for its IPO.

The public issue will comprise a fresh issue of shares worth up to INR 1,060 Cr ($120.5 Mn) and an offer-for-sale (OFS) component of up to 57.4 Cr shares. Investors like Peak XV, Tiger Global, Ribbit, among others, will be offloading stake in the IPO. Sources told Inc42 that the OFS component would be in the range of INR 5,000 Cr to INR 6,000 Cr ($568 Mn to $681 Mn).

Earlier, Inc42 reported that the company is eyeing a valuation of $7 Bn to $8 Bn for the public issue. This is in line with its last private valuation. In June, Groww raised $200 Mn in its Series F round at a valuation of $7 Bn.

Groww cofounder...