Explore the latest news, in-depth reports, and executive analysis tagged with #Employee Share Sale.
The latest sale marks Ribbit Capital’s second major share sale in Groww this year.
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.
Paytm clarified that it is not involved in the proposed transaction and the founder’s direct shareholding in Paytm will remain unchanged following the block deal.
Goldman Sachs Bank Europe SE purchased the entire stake in the transaction.
Several institutional investors picked up the shares, including Goldman Sachs, Morgan Stanley, Societe Generale, Kotak Securities, Tata Mutual Fund and BNP Paribas.
The buyers in the transaction included SBI Mutual Fund and Nippon India Mutual Fund.
This is the second major monetisation by Madison India Capital from its decade-old investment in Pine Labs.
CEO Lalit Keshre sold shares worth Rs 18.6 crore, while Harsh Jain, Neeraj Singh, and Ishan Bansal also sold part of their holdings.
Not surprisingly, the sale sparked fears of an AI bubble as it hit Nvidia’s stocks.
This comes after Cohere raised an additional $100 million in September at a $7 billion valuation.
The shares were bought by investors including SoftBank, Dragoneer Investment Group, Thrive Capital, MGX, and T. Rowe Price.
