Peak XV, Y Combinator, Ribbit Capital sell $498 million Groww stake
Business
Big news for Groww fans: major investors like Peak XV, Y Combinator, and Ribbit Capital are selling a chunk of their shares, worth around $498 million.
They're offering these shares at ₹177 each, which is a bit lower than the recent closing price of ₹193.70.
May 12 frees 400cr pre-IPO shares
The timing lines up with the lock-in period ending for about 400 crore pre-IPO shares on May 12, unlocking 65% of Groww's early investor holdings.
Investment banks Kotak Mahindra Capital and J.P. Morgan are helping out with this deal, which could shake up Groww's stock performance and how investors feel about the company going forward.