By ipomarket.in Editorial Team · Last reviewed: 2026-10-13
Disclaimer: This article is for informational purposes only and does not constitute investment advice. IPO investments are subject to market risks. Please read the offer document carefully and consult a SEBI-registered investment advisor before investing.
AssetGro Fintech Ltd, the parent company of investing and stock-market research platform StockGro, has taken an early step towards a public listing. The company announced that it has pre-filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), BSE and NSE under the confidential pre-filing route on 26 September 2026.
This is a document-stage development, not a launch. A confidential pre-filing lets a company begin the regulatory review process without making its full draft prospectus public right away. As one report notes, such a filing "is an important step toward a public offering, but it does not mean the IPO has been approved, launched or scheduled for listing." So treat everything below as context on where the process stands, not as a signal that an offer is imminent.
What is StockGro?
StockGro was founded in 2020 by Ajay Lakhotia and operates as an investment advisory platform focused on stock-market research, investing and trading. The business sits in the retail fintech space, where it competes for the same audience that uses broking and investment apps.
According to industry reports, StockGro is backed by investors including Roots Ventures, General Catalyst and Nazara co-founder Nitish Mittersain, and has reportedly raised more than $120 million to date while claiming over 4.5 crore users. These figures come from media reports rather than a public SEBI document, so they should be read as reported numbers until the DRHP is available for scrutiny.
The IPO figures: what is confirmed and what is reported
This is where investors need to be careful, because different sources carry different numbers.
Based on a board resolution, AssetGro Fintech has approved an issue of up to ₹536 crore in fresh equity, along with an offer for sale (OFS) by existing shareholders. That is the confirmed fresh-issue figure tied to a corporate resolution.
Separately, some reports suggest the company is looking to raise up to ₹2,000 crore to ₹2,500 crore in total via the IPO, which could include a fresh issue of around ₹800 crore and an OFS. These larger numbers are reported, not confirmed, and they do not line up neatly with the ₹536 crore fresh-issue resolution. The gap is a reminder of why the final DRHP matters: until the draft is public and processed, headline deal sizes can shift.
The company may also raise up to ₹107.2 crore through a pre-IPO placement before the main offer. If that placement goes through, the amount raised will be deducted from the fresh issue.
If you are new to how these mechanics work, our explainer on IPO price band meaning and the difference between a fresh issue and an OFS in types of IPOs are useful background.
Governance steps ahead of the filing
AssetGro Fintech has also passed a resolution to appoint three independent directors — Dinesh Chander Patwari, Yatrik Rushikesh Vin and Divya Dwivedi — each for five-year terms. Appointing independent directors is a standard board-composition requirement companies address before going public, and it is the kind of housekeeping that typically accompanies IPO preparation.
Fresh funding ahead of the listing
Separately, reports indicate StockGro is looking to raise ₹110.16 crore from existing and associated investors as part of an ongoing Series B round, reportedly led by existing investor BITKRAFT Ventures, which is expected to contribute ₹60.1 crore. This funding activity is attributed to media reporting and is distinct from the IPO itself. Companies often shore up their balance sheet or clean up their cap table in the run-up to a listing, but the DRHP will be the authoritative source on fund use.
What is still unknown
The company has yet to disclose the final IPO size, price band, valuation or listing timeline. For a confidential pre-filing, that is normal. The draft prospectus will eventually have to pass SEBI review, and a public version with financials, risk factors and the offer structure would follow before any dates are set.
For retail investors, this means there is nothing to act on right now. There is no price band, no subscription window and no listing date. Our guide on what a DRHP is and how to read it explains what to look for when the fuller document arrives.
How to think about an early-stage fintech filing
Stock-market advisory and research platforms depend on retail participation, which is cyclical and sensitive to overall market sentiment. When the eventual DRHP is published, the areas worth examining include revenue mix, profitability, regulatory exposure as a research/advisory platform, and the split between the fresh issue (money going into the company) and the OFS (money going to selling shareholders). A larger OFS component tells you more about existing investors seeking an exit than about fresh capital for growth.
Until those numbers are on the table, any valuation discussion would be speculation. You can track confirmed developments on our upcoming IPOs list as the process moves forward.
FAQ
Has StockGro's IPO been approved?
No. AssetGro Fintech, StockGro's parent, has only pre-filed its DRHP confidentially with SEBI, BSE and NSE on 26 September 2026. A confidential pre-filing is an early step and does not mean the IPO has been approved, launched or scheduled for listing.
How big is the StockGro IPO?
The company has approved a fresh issue of up to ₹536 crore via a board resolution, along with an OFS. Some reports suggest a larger total of ₹2,000 crore to ₹2,500 crore with a roughly ₹800 crore fresh issue, but those figures are reported and not confirmed. The final size has not been disclosed.
What is the IPO price band and date?
Neither has been announced. The company has not disclosed the price band, valuation or listing timeline. These details would typically come after SEBI review and the public prospectus stage.
Who founded StockGro and who backs it?
StockGro was founded in 2020 by Ajay Lakhotia. According to reports, its backers include Roots Ventures, General Catalyst and Nazara co-founder Nitish Mittersain, and it has reportedly raised more than $120 million to date.
What is a pre-IPO placement?
It is a share sale to select investors before the main public offer. StockGro's parent may raise up to ₹107.2 crore this way, and that amount would be deducted from the fresh issue if completed.
Last reviewed: 2026-10-13. Figures sourced from company resolutions and media reports; verify against the official DRHP when public.