Politics · India Bureau
Peak XV Partners trims Groww stake with ₹1,756 crore block sale
The venture capital firm has offloaded a 1.46 per cent holding in the Bengaluru-based stockbroking platform through a bulk deal on the NSE, reducing its stake but maintaining its position as the largest public shareholder.
LSN India ·
Peak XV Partners has divested its stake in fintech platform Groww, selling 9.17 crore shares representing 1.46 per cent of parent company Billionbrains Garage Ventures for ₹1,756.23 crore. The block deal was executed on the National Stock Exchange on Wednesday at an average price of ₹191.49 per share.
The transaction brings Peak XV Partners' holding in Groww down to 14.22 per cent from 15.68 per cent previously. Despite the reduction, the venture capital firm and its affiliates remain the largest public shareholder in the trading platform.
The identities of the buyers could not be determined from NSE data. On Thursday, Groww shares traded marginally lower at ₹190.14 apiece on the exchange. The sale marks the latest in a series of stake adjustments by the investor in the online broking sector.