Ribbit Capital Sells Groww Shares Worth ₹2,217 Crore
Early investor Ribbit Capital has sold shares in fintech company Groww valued at approximately ₹2,217 crore in two large block deals. The buyers of these shares are not yet identified.
Early-stage investor Ribbit Capital has divested shares in Indian fintech firm Groww worth approximately ₹2,217 crore. The sales occurred on Monday through two separate block deals, with shares trading at ₹196 and ₹196.06 apiece, according to NSE market data. The identities of the purchasing entities have not been disclosed.
The shares sold represent about 2% of Groww's total equity. Ribbit Capital had previously held a significant stake in the company, estimated at around 10.1% as of June 30.
Groww's stock closed down 3.3% on Monday following the transactions, despite a year-to-date gain of over 26%. The company reported strong financial performance in the first quarter of fiscal year 2027, with net profit surging 94.3% and revenue from operations rising 66%.
Ribbit Capital led Groww's Series B funding round in 2019. This is not the first time the venture capital firm has sold a substantial portion of its stake; a similar large sale took place in May after the expiry of the six-month IPO lock-in period.