Y Combinator offloads 1.2% stake in Groww for ₹1,435 crore

Y Combinator has divested a 1.19 per cent stake in Groww parent company Billionbrains Garage Ventures through an open market transaction, realising ₹1,435.19 crore from the sale. The accelerator's affiliate YC Holdings II LLC offloaded 7,46,87,500 shares at an average price of ₹192.16 per share on the BSE, according to bulk deal data released on Tuesday.

Following the transaction, Y Combinator's shareholding in the stock broking and investing platform declined to 7.44 per cent from 8.63 per cent, signalling a continued reduction in the investor's stake. The identity of the share purchasers could not be immediately determined from available exchange data.

Groww shares closed 2.52 per cent lower at ₹193.70 on the BSE following the announcement, reflecting broader market sentiment around the divestment. The sale comes just months after Y Combinator offloaded a 1.45 per cent stake in the fintech firm for ₹1,642 crore in May, indicating an accelerated exit strategy from the investment.

Groww, which offers retail investors access to stocks, mutual funds, and other investment products, has grown to become one of India's prominent fintech platforms since receiving Y Combinator backing. The latest divestment underscores changing investor priorities and marks a significant reduction in the accelerator's exposure to the company.