StockGro Raises ₹110 Crore Ahead of IPO

StockGro is looking to raise ₹110.16 crore from existing and associated investors as part of its ongoing Series B funding round, according to corporate filings reviewed by Inc42. The fresh capital comes days after the investment-tech startup’s parent company, AssetGro Fintech Ltd, confidentially pre-filed its draft IPO papers with SEBI, putting the company on a path toward a potential public-market debut.

The proposed funding is being led by existing investor BITKRAFT Ventures, which is expected to contribute ₹60.1 crore. Aditum Venture Capital Fund is set to invest another ₹23.1 crore, while India SME Growth Fund, Systematix Fincorp and several angel investors are expected to contribute the balance. StockGro has not publicly confirmed the new funding round and declined to comment on Inc42’s queries.

Key takeaways

• StockGro is looking to raise ₹110.16 crore through a fresh issue of Series B compulsorily convertible preference shares.
• BITKRAFT Ventures is expected to invest ₹60.1 crore, while Aditum Venture Capital Fund is set to put in ₹23.1 crore.
• The round also includes India SME Growth Fund, Systematix Fincorp and angel investors including Suniel Shetty.
• The funding appears to be an extension of StockGro’s existing Series B financing.
• AssetGro Fintech confidentially pre-filed IPO papers on September 26, 2026.
• The proposed IPO could be worth ₹2,000–2,500 crore, with a potential fresh issue of around ₹800 crore.
• StockGro says it has raised about $110 million and served more than 4.5 crore users.
• The company reported FY25 revenue of about ₹125.5 crore and profit after tax of ₹34.6 crore, according to Inc42’s financial database.

StockGro plans ₹110.16 crore Series B tranche

The latest financing involves the proposed issuance of 14,004 Series B compulsorily convertible preference shares, or CCPS, at ₹78,668 per share. The issue has an aggregate value of ₹110.16 crore.

BITKRAFT Ventures is expected to provide the largest portion of the capital at ₹60.1 crore. Aditum Venture Capital Fund is slated to invest ₹23.1 crore.

The remaining amount is expected to come from India SME Growth Fund, Systematix Fincorp and angel investors. The list includes Vanaja Sundar Iyer, Jignesh Vijay Shah and actor Suniel Shetty.

The structure is important because the transaction is not being presented as a completely new financing series. Instead, it appears to be another tranche of StockGro’s broader Series B round.

StockGro’s board has approved the share issuance, while the company itself has not publicly commented on the transaction. The funding therefore remains a reported financing based on corporate filings rather than a company-announced fundraise.

The proceeds are intended for business expansion, working capital and general corporate purposes. That gives StockGro additional capital at an important point in its development, as it prepares for a possible transition from a privately funded fintech into a listed company.

Funding comes just before proposed IPO

The timing of the funding is particularly significant.

AssetGro Fintech, the parent company of StockGro, confidentially pre-filed its draft red herring prospectus with SEBI and the stock exchanges on September 26, 2026. The confidential filing route allows a company to begin the regulatory IPO process while keeping detailed offer documents outside the public domain during the initial review period.

According to market reports, StockGro is considering an IPO of ₹2,000 crore to ₹2,500 crore.

The proposed issue could contain a fresh issue of approximately ₹800 crore, with the remaining portion potentially coming through an offer for sale by existing shareholders. These figures are not final and could change as the IPO process progresses.

There is also no confirmed listing date at this stage.

That distinction matters. A confidential DRHP pre-filing is an important step toward a public offering, but it does not mean the IPO has been approved, launched or scheduled for listing.

For StockGro, the ₹110 crore financing therefore arrives at a strategic moment. The company can use private-market capital to strengthen its operations while progressing through the regulatory process for a much larger public-market fundraise.

StockGro has already raised more than $100 million

The latest transaction would add to a substantial funding history.

StockGro raised ₹150 crore from stock-market investor Mukul Agrawal in December 2025 through a Series B round structured as a convertible investment. The valuation for that investment was to be determined later based on the company’s performance.

Soon afterward, BITKRAFT Ventures invested $13 million in a Series B1 round.

The startup had also raised $6 million from Trifecta Venture in September 2025, according to funding databases.

Inc42 currently puts StockGro’s total funding at more than $108 million across eight funding rounds, while the company itself says it has raised approximately $110 million since its founding.

The difference reflects the fact that databases can classify debt, equity and different funding tranches differently. For the latest round, the ₹110.16 crore transaction should be treated separately from previously announced funding until the company formally confirms its completion.

The latest reported financing also reinforces BITKRAFT’s importance to StockGro. The investment firm has backed the company since its earlier stages and participated in the December 2025 Series B1 round.

What does StockGro actually do?

StockGro operates at the intersection of investment research, financial education, advisory and social investing.

The platform allows users to research stocks, track portfolios, follow other investors and interact with market experts. It also provides research and trade ideas from SEBI-registered analysts.

The company is not itself a traditional stock broker.

According to StockGro’s own platform information, users can connect their existing broker accounts to execute trades based on analyst ideas, while the funds and securities remain with the broker.

This distinction is increasingly relevant as financial technology companies attempt to build broader ecosystems around investors rather than competing purely on brokerage fees.

StockGro has also expanded into artificial intelligence through Stoxo, its AI-powered research assistant.

Stoxo is designed to help users analyse companies, stocks, mutual funds and other investment themes. The product combines AI capabilities with research and information available through StockGro’s ecosystem.

That strategy gives the company another potential monetisation and engagement layer beyond its traditional research and advisory offering.

From investment community to AI-powered platform

StockGro’s evolution mirrors a broader change in India’s retail-investing ecosystem.

The first generation of digital investment platforms largely focused on making trading and investing cheaper and easier. The next phase has increasingly centred on information, research, education, advisory and personalised tools.

StockGro is attempting to position itself in that second layer.

Its community model allows users to discover investment ideas and follow analysts, while its research products are intended to help users interpret market information.

AI could make this model more scalable.

Instead of requiring users to search through large amounts of financial information manually, an AI research assistant can potentially summarise businesses, compare financial metrics, explain market developments and help users organise investment research.

However, AI-powered financial products also introduce important challenges.

Investment information must be accurate, timely and appropriately presented. There is also a difference between explaining financial information and providing regulated investment advice. StockGro operates within India’s financial regulatory framework through its research and advisory entities, making compliance an important part of its business model.

StockGro’s financial profile has improved

StockGro’s latest available financial information provides another reason why the IPO preparation is notable.

Inc42’s company database shows FY25 revenue at approximately ₹125.5 crore, up 26.4% from ₹99.3 crore in FY24.

It also reports a FY25 profit after tax of ₹34.6 crore.

That represents a major change from the financial profile reported for FY24 by other startup databases and media reports, when StockGro had reported substantially lower operating revenue and a net loss.

The improvement matters because profitability is likely to become increasingly important as the company approaches the public markets.

Private investors can fund growth based on future potential. Public-market investors typically scrutinise revenue quality, profitability, cash flows, customer acquisition costs and the sustainability of the business model much more closely.

StockGro will therefore have to demonstrate that its user base can translate into recurring and scalable revenue.

More users do not automatically mean stronger economics

StockGro says it has served more than 4.5 crore users.

That is a significant headline number, but the quality of that user base will matter more as the company approaches an IPO.

A large registered-user base can help create distribution and brand awareness. It does not necessarily translate into equivalent paying customers or revenue.

For investors, several metrics will become increasingly important as more IPO information becomes public.

These include the percentage of users who are active, the proportion paying for premium products, subscription retention, revenue per paying customer, advisory revenue, advertising or partnership revenue and the contribution from AI-powered products.

The company’s ability to convert its large community into predictable recurring revenue could ultimately be more important than the headline user count.

Why the ₹110 crore round matters before an IPO

The new funding serves two purposes.

First, it gives StockGro additional capital to continue investing in its platform while the IPO process moves forward.

Second, participation by existing investors can signal continued confidence from shareholders who already know the business.

BITKRAFT’s proposed ₹60.1 crore contribution is particularly notable because the investor is already familiar with StockGro and has participated in previous funding.

That does not guarantee IPO performance or future returns. However, follow-on investments from existing backers can indicate that those investors remain willing to commit additional capital ahead of a potentially significant liquidity event.

The presence of several other existing or associated investors also broadens the financing base.

IPO could provide a much larger capital pool

The proposed ₹2,000–2,500 crore IPO would be significantly larger than the latest private funding round.

If the reported structure remains broadly similar, around ₹800 crore could come into the company through the fresh issue, while the rest could be raised through an offer for sale.

The fresh issue would provide AssetGro Fintech with additional capital for its business. An OFS, by contrast, allows existing shareholders to sell part of their holdings and does not directly provide those proceeds to the company.

This distinction will be important for potential public investors.

They will also need to examine how much of the IPO represents primary capital for StockGro’s growth and how much represents secondary liquidity for existing shareholders.

The final prospectus will provide considerably more detail on these issues.

The bigger picture: India’s investing platforms are entering a new phase

StockGro’s IPO preparation comes at a time when India’s retail investing ecosystem has become much larger and more technology-driven.

The opportunity is no longer simply about giving users access to a trading screen.

Investors increasingly have access to research, market data, financial education, social communities, algorithmic tools and AI-based information products.

That creates an opportunity for platforms such as StockGro to build businesses around the entire investment decision-making journey.

But it also raises the competitive bar.

StockGro operates in a market that includes established brokers, wealth platforms, financial-content companies and increasingly sophisticated AI tools. A strong community and user base can provide an advantage, but the company will need to show that those advantages can produce durable financial performance.

The IPO process will put that question under much greater scrutiny.

What happens next?

StockGro’s immediate milestone is the regulatory review of AssetGro Fintech’s confidential IPO filing. Because the company has used the confidential route, investors do not yet have access to the full public offer document and therefore cannot independently assess the complete proposed issue structure, valuation, detailed financial statements or use of IPO proceeds.

The reported ₹110.16 crore funding round is also yet to be publicly announced by StockGro itself. The company will need to complete the relevant corporate and regulatory processes before the transaction can be treated as fully closed.

Frequently asked questions

How much is StockGro raising in the latest funding round?

StockGro is looking to raise ₹110.16 crore through an issue of 14,004 Series B CCPS priced at ₹78,668 each.

Who is investing in StockGro’s latest round?

BITKRAFT Ventures is expected to invest ₹60.1 crore and Aditum Venture Capital Fund ₹23.1 crore. India SME Growth Fund, Systematix Fincorp and several angel investors are expected to contribute the remaining amount.

How much could StockGro raise through its IPO?

AssetGro Fintech is reportedly targeting an IPO of ₹2,000 crore to ₹2,500 crore. The proposed structure could include a fresh issue of around ₹800 crore and an offer for sale, although the final structure may change.

Is StockGro’s IPO approved?

No. AssetGro Fintech has confidentially pre-filed its draft IPO documents with SEBI. That is an important step toward a listing, but it is not the same as final IPO approval or a confirmed listing date.