Groww, India's largest retail stockbroker, is preparing to file for an initial public offering (IPO) within the next 10 to 12 months, aiming for a valuation between $6 billion and $8 billion. The company, which was last valued at $3 billion in October 2021, has engaged with investment banks to facilitate the IPO process. Groww has recently shifted its domicile from the US to India, a move that included a tax payment of Rs 1,340 crore to the US government. The fintech firm, backed by investors such as Peak XV, Tiger Global, and Alkeon, plans to raise approximately $700 million through the IPO. Groww's trading app has surpassed its closest competitor, Zerodha, with 13.2 million active users in December, and it continues to add between 325,000 to 550,000 new users monthly.