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Billionbrains Garage Ventures, the parent company of brokerage free stock broking firm Groww, has filed draft papers with SEBI for an initial public offering (IPO) estimated to be in the range of $700 million to $1 billion through a confidential pre-filing route. Singapore’s sovereign fund GIC sought approval from the CCI in May to acquire a 2.14% stake in the company. As per reports, the pre-IPO funding could take Groww’s valuation to around $6.5-7 billion.
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