Y Combinator trims Groww stake, sells shares worth Rs 1,435 crore
The transaction marks Y Combinator’s second significant share sale in Groww this year after the six-month lock-in period for investors ended following the startup's listing late last year.
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Y Combinator has further trimmed its holding in wealthtech firm Groww, selling close to 1.2% stake in parent company Billionbrains Garage Ventures through a block deal worth Rs 1,435 crore.
YC Holdings II LLC, an affiliate of the US-based startup accelerator, offloaded 7.47 crore shares at an average price of Rs 192.16 apiece in an open-market transaction, as per stock market disclosure.
Following the deal, YC Holdings II’s ownership in Groww fell from 8.63% to 7.44%. The exchange filing did not reveal the identities of the buyers.
The transaction marks Y Combinator’s second significant share sale in Groww this year after the six-month lock-in period for investors ended following the startup's listing late last year. In May, the accelerator had sold a 1.45% stake in the company for Rs 1,642 crore. That transaction was part of a larger exit by several early investors, including Peak XV Partners and Ribbit Capital, who together sold about 4.7% stake in Groww through bulk deals.
In the first quarter of FY27, the Bengaluru-headquartered company reported a 94% rise in net profit to Rs 735 crore, compared with Rs 378 crore in the corresponding period last year. Revenue from operations increased 66% year-on-year to Rs 1,501 crore during the quarter.