US-based early stage investment firm Friale yesterday sold 1.13 Cr shares of fintech major Groww in a block deal worth ₹210.4 Cr.
As per BSE data, Friale, via its Friale Fund IV LLC, sold the shares at ₹185.5 each to rake in the amount. The shares that flooded the market were lapped up in their entirety by Goldman Sachs for the same amount.
The bulk deal was executed at a discount of nearly 2.4% to the stock’s last closing price on Thursday.
This comes nearly a month after early backers such as Peak XV Partners, YC Holdings, Ribbit Capital and others sold a portion of their stakes in the fintech major for a sum of 5,352 Cr via multiple bulk deals. The transactions came post the expiry of the six-month lock-in period for pre-IPO shareholders.
The deals also come as investors look to book profits amid a hefty jump in Groww’s share prices. Shares of the fintech giant have surged nearly 21% in the past three months and are up more than 21.7% on a year-to-date (YTD) basis. However, the stock has dwindled 13.7% in the past one month.
This jump in share prices has come on the back of Groww’s healthy financial performance. The fintech juggernaut’s net profits soared 122% to ₹686.4 Cr in Q4 FY26 as against ₹309.1 Cr in the year ago period. Meanwhile, operating revenue rose 88% YoY and 24% sequentially to ₹1,505.4 Cr, taking total income to ₹1,535.5 Cr.
Founded in 2016 by Lalit Keshre, Harsh Jain, Neeraj Singh and Ishan Bansal, Groww started as a mutual fund investment platform and has since expanded into stock broking and wealth management products as well.
Shares of the fintech unicorn closed yesterday’s trading session 0.64% higher at ₹190.05 on the BSE.
The post Friale Sells Groww Shares In ₹210 Cr Block Deal appeared first on Inc42 Media.
https://ift.tt/7MnXkGF
0 Comments