Leading investors like Peak XV Partners and Sequoia are set to sell a portion of their stakes in digital brokerage Groww through a ₹4,750-crore block deal. This stake sale, involving nearly 4.3% of the company's equity, follows the expiry of Groww's six-month post-IPO shareholder lock-in period.

Peak XV, Sequoia, other funds to sell a part of Groww stakes in Rs 4,750-cr deal

Mumbai: A clutch of funds, including Peak XV Partners and Sequoia, would be selling a portion of their stakes in new-age digital brokerage Groww in a ₹4,750-crore block deal Tuesday, according to a term sheet of the proposed transactions seen by ET.

These bulge-bracket investors selling shares in Billionbrains Garage Ventures or Groww, would also include YC Holdings and Ribbit's funds, besides Sequoia Capital Global Growth Fund and Peak XV, showed the term sheet.

The entities would seek to sell nearly 4.3% stake of the company's equity, or 268.4 million shares, with an option to upsize the deal based on the demand.

The deal may be executed at a floor price of ₹177 per share, translating into a discount of 8.5% to Monday's closing price of ₹193.52 apiece. Groww, which lost more than 5% Monday, had a market capitalization of ₹1.2 lakh crore at the end of trading.

Kotak Securities and JP Morgan India are acting as brokers on the deal.

Live Events

The selling entities did not respond to ET's emailed queries until the publication of this report.

The stake sale coincides with the expiry of Groww's six-month post-IPO shareholder lock-in period on Tuesday, which allowed early investors to offload shares.

According to Nuvama Alternative & Quantitative Research, about 4.18 billion shares, or nearly 68% of the company's outstanding equity, became eligible for trading following the lock-in expiry.

(You can now subscribe to our ETMarkets WhatsApp channel)

(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today.

Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

...moreless

(You can now subscribe to our ETMarkets WhatsApp channel)

Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today.

Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

...moreless

Can Securities Market Code fix gaps in stock market regulation?

Why Sanjeev Bikhchandani now depends more on Zomato than on jobs

Why Jio BlackRock is taking a U-turn to reach investors

98 million SIP accounts power Indian equities. What if they stop?

First-time buyers, entry cars: The missing links in India’s auto boom