Politics · India Bureau
Peak XV, Y Combinator, Goldman Sachs trim Groww stakes for ₹2,457 crore
Three marquee investors have collectively divested a 1.84 per cent stake in fintech platform Groww through bulk deals on Indian exchanges, raising ₹2,457 crore. The offloading marks a significant reduction in holdings by the early-stage backers of the investment app.
LSN India ·
Peak XV Partners, Y Combinator and Goldman Sachs have sold over 11.52 crore shares in Billionbrains Garage Ventures, Groww's parent entity, according to bulk deal data from the BSE and NSE on Friday.
Peak XV Partners Investments VI-1 divested more than 6 crore shares, while Y Combinator Holdings II, LLC sold 5.50 crore shares on the BSE. Goldman Sachs also offloaded shares on the NSE. The combined transaction valued the stake at ₹2,456.87 crore, with shares changing hands in the price band of ₹211.09 to ₹215.20 each.
The share sale underscores ongoing consolidation among Groww's investor base as the company matures. Goldman Sachs simultaneously purchased 3.55 crore shares worth over ₹764 crore, suggesting continued institutional interest in the fintech platform. The identities of other buyers in the bulk deals could not be immediately determined from exchange filings.
Groww has established itself as a key player in India's retail investment space, offering stock trading and mutual fund investment services to millions of users. The latest transactions reflect typical portfolio rebalancing by early-stage venture investors as portfolio companies progress toward greater maturity.