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 US$271.5M. Peak XV Partners and Sequoia Capital were the likely sellers.

The details: Shares sold at US$2.61 apiece, versus a previous close of US$2.68. The stock traded at US$2.62 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 US$260.5M 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 US$2.61 price edged above the reported floor of US$2.6. 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 US$301.1M.

By the numbers: Groww reported a 7 percent year-on-year rise in net profit to US$99.8M for the June quarter. Revenue held at US$203.8M, 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 US$16.8B, the stock remains a magnet for early backers looking to cash out at a premium.