Ribbit Capital offloads Rs 2,217 crore worth of Groww shares via block deal
The latest sale marks Ribbit Capital’s second major share sale in Groww this year.
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US-based venture capital firm Ribbit Capital has pared its stake in Groww’s parent company, Billionbrains Garage Ventures, by selling shares worth around Rs 2,217 crore through open market transactions on August 26.
According to exchange data, Ribbit Capital V LP sold 6.32 crore shares at an average price of Rs 196 per share, and Ribbit Cayman GW Holdings V Ltd offloaded 4.99 crore shares at Rs 196.06 apiece. Combined, the two entities sold around 11.31 crore shares in the fintech firm.
The latest sale marks Ribbit Capital’s second major share sale in Groww this year. In May, the investor, along with Peak XV Partners and Y Combinator, sold shares worth over Rs 2,500 crore through bulk deals.
Y Combinator has also been trimming its exposure to the company. Earlier this month, YC Holdings II sold shares worth around Rs 1,435 crore, after another stake sale valued at roughly Rs 1,642 crore in May.
In the first quarter of FY27, Billionbrains Garage Ventures reported revenue of Rs 1,501 crore, up 66% year-on-year and net surged 94% to Rs 735 crore during the same period.