Groww’s parent company Billionbrains Garage Ventures has initiated a major block deal valued at about $498 million or ₹4,750 crore. The deal involves leading investors including Peak XV Partners, Sequoia Capital, Y Combinator and Ribbit Capital. Shares are being offered at ₹177 each, which is an 8.5% discount to Monday’s closing price of ₹193.70.
The transaction will dilute around 4.3 percent of the company’s total equity. Kotak Mahindra Capital and J P Morgan are managing the sale. A lock‑up period of 90 days has been placed on further share sales by these investors.
This development comes just after the expiry of the lock‑in period on May 12, which made nearly 400 crore pre‑IPO shares tradable, representing about 65 percent of Groww’s holdings. The move is expected to increase liquidity in the stock and may add volatility in the near term.
Despite the dilution, Groww recently reported strong financial results with net profit rising 122% year‑on‑year to ₹686 crore in the fourth quarter, supported by robust revenue growth.
