Ribbit Capital to offload Rs 1,900-crore stake in fintech firm Groww

Ribbit Capital is moving to reduce its exposure to Indian fintech unicorn Groww by selling its entire stake in the company's parent entity, Billionbrains Garage Ventures. The block deal involves offloading 1.6% of the company at Rs 195 per share, translating to a transaction value of approximately Rs 1,914 crore.

The divestment represents a partial exit by the Silicon Valley-based venture firm, which has been among the early backers of the investment platform that has rapidly scaled its user base over the past few years. Block deals of this nature are typically conducted at negotiated prices outside regular stock market trading hours.

Groww has emerged as one of India's prominent fintech platforms, offering retail investors access to stocks, mutual funds, and other financial instruments through a digital-first approach. The company has attracted substantial capital from institutional investors as it taps into the growing appetite for self-directed investing among Indian retail participants.

The timing of Ribbit Capital's exit comes as the broader Indian startup ecosystem navigates shifting investor sentiment and valuations. Several early-stage backers have initiated secondary sales in recent months as portfolio companies mature and demonstrate sustained business models.