Mumbai, Sept. 16 -- Online stock trading platform Groww has filed an updated draft red herring prospectus with the Securities and Exchange Board of India (Sebi) for an initial public offering (IPO) of about Rs.7,000 crore, according to the updated filings.

The company is looking to raise fresh capital of Rs.1,050 crore, while Rs.5,000-6,000 crore will be the offer for sale component with early investors selling in the IPO, two people aware of the matter told Mint.

Founders own 27.96% of the company and have filed as promoters of the company with a 20% lock-in for one and a half years from the time of listing. "In the IPO, they are offering to sell about 0.07% of the total shares of the company," said the first person.

Groww has decline...