US-based Y Combinator sells nearly 1.2% stake in Groww for ₹1,435 cr
Startup accelerator Y Combinator on Tuesday divested nearly a 1.2 per cent stake in Billionbrains Garage Ventures, the parent company of Groww, for Rs 1,435 crore through an open market transaction.
US-based Y Combinator through its affiliate YC Holdings II, LLC, sold a total of 7,46,87,500 shares, representing a 1.19 per cent stake in Bengaluru-based Groww, as per the bulk deal data on the BSE.
The shares were offloaded at an average price of Rs 192.16 apiece, taking the transaction size to Rs 1,435.19 crore.
After the latest transaction, YC Holdings II LLC's shareholding in the stock broking firm declined to 7.44 per cent from 8.63 per cent.
Details of the buyers of Billionbrains Garage Ventures' shares could not be ascertained on the exchange.
Shares of Billionbrains Garage Ventures settled 2.52 per cent lower at Rs 193.70 apiece on the BSE on Tuesday.
In May, Y Combinator sold a 1.45 per cent stake in Billionbrains Garage Ventures for Rs 1,642 crore through an open market ...
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