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Exclusive: StockGro plans Rs 536 Cr IPO fresh issue, to appoint independent directors

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Exclusive: StockGro plans Rs 536 Cr IPO fresh issue, to appoint independent directors

Social investing and stock market advisory platform StockGro’s parent company, AssetGro Fintech, is set to raise Rs 536 crore through a fresh issue of equity shares as part of its proposed initial public offering (IPO). 

According to its filing with the Registrar of Companies (RoC), AssetGro Fintech Ltd, the parent entity of StockGro, passed a resolution to approve the issue of up to Rs 536 crore in fresh equity and an offer for sale (OFS) by existing shareholders. 

However, the size of the OFS has not been disclosed in the resolution. According to media reports, StockGro is looking to raise up to Rs 2,000 Cr-Rs 2,500 Cr through the initial public offering.

Notably, the company may raise up to Rs 107.2 crore through a pre-IPO placement before the offer. If completed, the amount raised through the placement will be deducted from the fresh issue, the filing further stated.

The company has yet to disclose the final IPO size, price band, valuation or listing timeline.

In a separate filing ahead of its IPO, StockGro has passed a resolution to appoint Dinesh Chander Patwari, Yatrik Rushikesh Vin and Divya Dwivedi as independent directors for five-year terms. The company has also proposed appointing Diyanshi Agrawal as a nominee director.

Founded in 2020 by former venture capitalist Ajay Lakhotia, StockGro is building a full-stack ecosystem for smarter trading and investing through expert-driven insights and AI-powered research, delivered via its social-first, community-led platform. The company has raised over $100 million in funding to date, including investments from BITKRAFT Ventures, SBI Ventures, Root Ventures, and General Catalyst and others.


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