Ribbit Capital is looking to sell up to ₹1,914 crore ($200 million) worth of shares in Groww parent Billionbrains Garage Ventures Ltd through a block deal, according to deal terms seen by Mint, adding to a series of secondary share sales by early investors in the investment platform.
Funds managed by Ribbit will sell up to 98.2 million shares, or about 1.6% of Groww’s existing total shares outstanding, at a floor price of ₹195 a share. The floor price represents a 3.95% discount to Groww’s closing price of ₹203.01 on the National Stock Exchange on 25 August. The final transaction size could be higher if the upsize option is exercised.
J.P. Morgan India Pvt. Ltd is the sole placement agent. The transaction is entirely secondary, meaning Groww will not receive any proceeds from the sale.
The shares are being offered by three Ribbit-linked entities—Ribbit Capital V LP, Ribbit Cayman GW Holdings V Ltd and GW-E Ribbit Opportunity V LLC.
The transaction carries a 30-day lock-up period. Buyers will pay a brokerage commission of 25 basis points, in addition to normal market charges.
The proposed sale comes months after a much larger block deal involving Groww’s early investors. In May, up to 268.4 million shares, or about 4.3% of Groww’s equity, were proposed for sale through on-market transactions, with a base deal size of about ₹4,750 crore. The floor price was set at ₹177 a share.
Groww’s shares had come under pressure amid those reports, with the stock falling about 7% in one session as the market reacted to the prospect of a large supply of shares from early backers, as reports of several early investors, including Peak XV Partners and Y Combinator, prepared to offload their holdings after the expiry of their lock-in period.
Last week, US-based startup accelerator Y Combinator, one of Groww’s earliest investors, sold ₹1,435.2 crore worth of shares through its affiliate YC Holdings II LLC.
Y Combinator sold 7.47 crore Groww shares at ₹192.16 apiece, according to Inc42. The transaction took its cumulative proceeds from Groww to about ₹4,132 crore, while it continued to hold an 8.6% stake in the listed company, media reports said.
The latest sale by Ribbit is notable because the US-based fintech-focused investor was among Groww’s early institutional backers. In 2019, Ribbit led a ₹154 crore Series B funding round in Groww, with existing investors Sequoia Capital India and Y Combinator also participating.
At the time, Groww was primarily a mutual-fund investment platform offering more than 3,000 mutual fund options. It had about 2.5 million registered users, more than two-thirds of whom were first-time investors.
Groww has since evolved into a broad-based retail investment platform and listed its parent company, Billionbrains Garage Ventures, in November 2025. The company raised ₹6,632.3 crore through its initial public offering, while its shares debuted at ₹114, a 14% premium to the ₹100 issue price.
The company’s market value has since risen sharply from its IPO valuation of about ₹62,000 crore.
The spate of secondary sales has also coincided with changes among Groww’s businesses and shareholders. In a recent development, Fisdom co-founders Subramanya S.V. and Anand Dalmia exited Groww after completing the integration of Fisdom, the wealth-management firm Groww acquired last year.
Groww had signed a definitive agreement to acquire Fisdom in May 2025 and completed the all-cash transaction, valued at around $150 million, in October.
