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Groww’s Massive VC Cashout
Earlier this week, Groww filed its updated DRHP for a massive INR 7,000 Cr public listing. Yet, the fine print of the draft papers reveals a sore reality – the IPO appears to be a grand exit for its early backers rather than growth capital for India’s largest discount broking platform.
The Lopsided IPO: Groww’s IPO allocates just INR 1,060 Cr for fresh issue, while earmarking 85% for OFS. This means that nearly INR 6,000 Cr will flow directly to existing…
