The promoter group at wealthtech startup Groww has sold around 0.23% stake in the company for approximately Rs 250-260 crore over the last few days, according to estimates based on stock exchange disclosures.
Groww was cofounded by Lalit Keshre, Ishan Bansal, Neeraj Singh and Harsh Jain.
This is one of the largest liquidity events for the founders of the Bengaluru-based startup since it listed last year. The startup has also delivered returns of 52-94 times for early investors such as Peak XV Partners and Y Combinator, after they sold part of their shareholding following the expiry of their IPO lock-in period.
Peak XV (formerly Sequoia Capital India), Ribbit Capital and startup accelerator Y Combinator sold 295.2 million shares, or a 4.7% stake, in the fintech company at Rs 180-181 apiece, taking the combined transaction size to around Rs 5,325 crore, ET reported on May 13 .
