Upstox begins talks with banks for ₹3,800 crore IPO: Report

Upstox has begun preliminary talks with investment banks for a potential IPO to raise ₹3,351-3,829 crore, PTI reported. The offering may combine fresh shares with an offer for sale by existing investors. Upstox has raised about ₹2,105 crore across six funding rounds from backers including Ratan Tata, Tiger Global and Kalaari Capital, becoming a unicorn in 2021.