Ribbit Capital, a venture capital firm based in the US, has offloaded shares valued at approximately Rs 2,217 crore in Billionbrains Garage Ventures, the parent organization of Groww. This occurred through bulk trades on Wednesday, August 26. The entity Ribbit Capital V LP disposed of 6.32 crore shares at an average price of Rs 196 each, while another entity, Ribbit Cayman GW Holdings V Ltd, sold an additional 4.99 crore shares at a price of around Rs 196.06 per share. This collective action resulted in the sale of about 11.31 crore shares.
Overall, the transactions related to Groww were more extensive, with close to 12.74 crore shares traded, amounting to nearly Rs 2,500 crore. The remaining transactions did not have a specified seller linked to them. Following these developments, Groww shares experienced a decline of over 3%.
Previous Sales by Ribbit Capital
This transaction marks Ribbit’s second significant sell-off in Groww during this year. In May, Ribbit Capital V LP, along with Ribbit Cayman GW Holdings V Ltd, sold shares valued at over Rs 2,500 crore, in partnership with Y Combinator and Peak XV Partners. Y Combinator has also been gradually decreasing its equity stake in the company. In August, YC Holdings II sold approximately 7.47 crore shares for an estimated Rs 1,435 crore. Prior to this, an earlier sale in May amounted to around Rs 1,642 crore.
Financial Performance of Groww
Despite these exits by investors, Groww continues to showcase robust financial performance. Billionbrains Garage Ventures reported a revenue of Rs 1,501 crore in Q1 FY27, reflecting a year-on-year increase of 66%. The profit after tax saw a remarkable rise of 94%, reaching Rs 735 crore.
At the conclusion of today’s trading session, Groww’s share price was recorded at Rs 196.24, with a total market capitalisation of Rs 1,23,238 crore ($12.8 billion).