Groww Share Price Drops 7% Following Reports of ₹4,750 Crore Block Deal

Billionbrains Garage Ventures Stock Falls 6.82% Amid Block Deal Reports

Billionbrains Garage Ventures, the parent company of investment platform Groww, saw its share price plummet 6.82% to ₹180.33 apiece on the National Stock Exchange (NSE) on Tuesday as part of a block deal. This decline comes amidst reports of early investors in Groww planning to sell their stakes through block deals following the lock-in expiry period.

The stock opened at ₹184 per share on Tuesday, compared to its previous close of ₹193.52 on Monday. According to a report by CNBC-TV18, several early investors in Groww, including Peak XV, Y Combinator, and Ribbit Capital, are preparing to offload stakes through block deals.

The transaction is reportedly priced at a floor value of ₹177 per share, reflecting a discount of nearly 8.5% from the stock's previous closing level. The base issue size is estimated at around ₹4,750 crore, accounting for roughly 4.3% of the company's total equity. The scope for an increase in the issue size depends on investor appetite. Existing shareholders such as Peak XV Partners Investments VI-1, Sequoia Capital Global Growth Fund III—U.S./India Annex Fund, YC Holdings II LLC (Y Combinator), and Ribbit Capital-linked entities are expected to participate as sellers in the deal.

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The transaction reportedly includes a 90-day lock-up clause, preventing participating investors from carrying out any further stake sales during that timeframe.

Note: The above table represents the expected participation of investors in the block deal.