Stock broking platform Groww's confidential filing for an initial public offering has been greenlit by the Securities and Exchange Board of India, people aware of the matter told NDTV Profit.The public offer is likely to be worth up to $1 billion, which will end up valuing the company at around $7 billion, the abovementioned people added.The company is now expected to file an updated draft red herring prospectus with SEBI in the coming weeks, which will essentially make the company's details public.NDTV Profit has reached out to Groww and SEBI for comments on the story.The confidential DRHP, filed with the regulator on May 24, said that the Bengaluru-based firm plans to be listed on both the National Stock Exchange and BSE, with shares having a face value of Rs 2 each.Groww's parent company saw its top line grow by around 30% in fiscal 2025 while making a profit of Rs 1,819 crore, according to a valuation report reviewed by NDTV Profit. Billionbrains Garage Ventures reported a profit after tax after a loss in the previous year which came on the back of a one-time tax expense of Rs 1,340 crore. The tax expense was paid for reverse-flipping the company's domicile to India from the US, which was completed in March 2024.The company recently closed a Series F funding round where it raised $200 million at a valuation of close to $7 billion. The round saw participation from new investor GIC and existing investor Iconiq Capital. Both the investors have picked up 1.4% stake for $100 million each.Groww counts the likes of Zerodha and Angel One Ltd. among its industry rivals. A growing top line has been observed consistently across the broking industry as more retail investors take to the country's capital markets, with Angel One's total revenue from operations coming up to Rs 5,238 crore for the fiscal 2025 — a year-on-year increase of 23%.The fintech major also signed a definitive agreement earlier this year to acquire wealth management company Fisdom for approximately $150 million, or around Rs 1,280 crore, in an all-cash deal, which marked its foray into the wealth advisory space.The Bengaluru-based investment platform might see early investors like Tiger Global and Peak XV Partners selling stake as part of their holdings through the offer for sale, with some participation also expected from the firm's co-founders, another person had told NDTV Profit earlier.The company's early backers also include Ribbit Capital, YC Continuity and Propel Venture Partners.On May 28, the company announced that the face value of Billionbrains' equity shares and class A equity shares was subdivided from Rs 10 each to Rs 2 each.This meant that 36.6 crore shares of Rs 10 face value were split into 182.8 crore shares of Rs 2 each, while 13,200 class A shares of Rs 10 each were sub-divided into 66,000 class A shares of Rs 2 each.IPO-Bound Groww Crosses 10 Crore Downloads On Playstore As Lead Over Zerodha Widens . Read more on IPOs by NDTV Profit.