Groww shares fell more than 5% in trade after a large block deal involving over 5% equity in the company hit the market.
According to market data, nearly 30.91 crore shares, representing around 5.01% equity, changed hands at an average price of Rs 182.3 per share. The total transaction value is estimated at around Rs 5,637 crore.
The stock was trading at Rs 183.43, down 5.21%, after hitting an intraday low of Rs 180 on the NSE.
Market sources had indicated late Sunday night that existing investors including Peak XV, Sequoia Capital, YC Holdings and Ribbit Capital were looking to pare stake in the company through block deals.
Sources further said the proposed block size was initially planned at around 4.3% equity but was later upsized to more than 5% on Monday morning amid strong investor demand.
The deal price of Rs 182.3 per share was at a discount to Friday’s closing price of Rs 193.52.
Groww has emerged as one of India’s largest retail broking and investment platforms, competing with players such as Zerodha, Angel One and Upstox. The company has witnessed rapid growth in recent years, driven by rising retail participation in equities and mutual funds.
Overall, Groww shares moved lower as investors reacted to the large block deal involving over 5% equity and the discounted transaction price compared with Friday’s close.
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