MilestoneSep 16, 2026, 05:21 UTC

Groww slides 2.5% as investors sell $228M stake in block deal

What's the deal? Shares of Billionbrains Garage Ventures, parent of Indian investment platform Groww, fell 2.5 percent on September 16 after roughly 10.41 crore shares — 1.69 percent of its equity — changed hands in block deals worth about Rs 1,999 crore ($228 million). Peak XV Partners and Sequoia Capital were the likely sellers.

The details: Shares sold at Rs 192 apiece, versus a previous close of Rs 197.59. The stock traded at Rs 192.65 in early trade, having also fallen 1.32 percent the prior session.

Why now? The sale came after CNBC-TV18 reported that Peak XV Partners Investments VI-1 and Sequoia Capital Global Growth Fund III — U.S./India Annex Fund planned to offload up to 10.02 crore shares. The actual deals were larger than the proposed Rs 1,918.3 crore transaction on both share count and value.

What changed: The 10.41 crore shares that moved exceeded the 10.02 crore indicated in the initial terms, while the Rs 192 price edged above the reported floor of Rs 191.45. The buyers and sellers were not immediately confirmed.

The bigger picture: This marks another significant shareholding shift within weeks. On August 26, Ribbit Capital sold 11.31 crore shares — about 1.8 percent of equity — through open-market deals worth Rs 2,217.3 crore.

By the numbers: Groww reported a 7 percent year-on-year rise in net profit to Rs 735 crore for the June quarter. Revenue held at Rs 1,501 crore, roughly flat sequentially, while EBITDA margin expanded 230 basis points to 64.6 percent.

The signal: Despite two weak sessions, Groww shares are up 26.9 percent in 2026, outperforming the Nifty 50's 11.6 percent decline. With a market value near Rs 1.24 lakh crore, the stock remains a magnet for early backers looking to cash out at a premium.