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Online investment platform Groww has received approval from the Securities and Exchange Board of India (Sebi) to launch its initial public offering (IPO), according to sources aware of the development.
The IPO size is estimated to be in the range of $800 million to $1 billion, they added.
The Bengaluru-based fintech filed its draft red herring prospectus (DRHP) with the market regulator on May 26.
ET has reached out to Groww seeking comments on the development.
The IPO papers, which have been filed through the confidential route, will comprise equity…
