Peak XV, YC and Ribbit pocket up to 94x returns from Groww stake sales as IPO lock-in ends

Groww delivered returns of 52-94 times for early investors — including Peak XV Partners, Ribbit Capital and Y Combinator — as they sold part of their holdings in India’s largest stockbroking platform through block deals on Tuesday, after the IPO lock-in period expired.

Peak XV’s nearly 94-times return ranks among the best venture capital outcomes in India.

Peak XV (formerly Sequoia Capital India), Micky Malka’s Ribbit Capital and famed Silicon Valley startup accelerator Y Combinator offloaded 295.2 million shares, or a 4.7% stake, in the fintech company. The shares were sold at Rs 180-181 apiece, taking the combined transaction size to around Rs 5,325 crore.


According to people briefed on the development, more than 60 global and domestic investors bought Groww shares through the block deals. They included HDFC Life, ICICI Prudential Life, BlackRock, Mirae Asset, Think Investments, Abu Dhabi Investment Authority (ADIA), Norway’s sovereign wealth fund and mutual funds such as JM Financial, Axis MF and HSBC MF.

On Tuesday, Groww’s stock closed 5.5% lower at Rs 183.10 on the BSE. The company went public in November at Rs 100 per share and currently commands a market capitalisation of Rs 1.15 lakh crore.

The latest sale adds to the bumper returns these investment firms generated last year, when they had partially exited their holdings during Groww’s IPO.

Peak XV Partners, which sold shares worth Rs 1,582 crore during the IPO, has now netted another Rs 1,116 crore and still holds shares valued at more than Rs 18,000 crore. The firm had invested Rs 200-250 crore in Groww and did not sell any shares before the IPO.

Ashish Agrawal, former managing director of Peak XV, who led the investment in Groww, won the Midas Touch Prize for Best Investor at The Economic Times Startup Awards 2025.

Y Combinator, which had sold shares worth Rs 1,054 crore during the IPO, pocketed another Rs 1,642 crore through Tuesday’s block deals. Ribbit Capital sold shares worth Rs 2,567 crore in the latest transaction, after having sold stock worth Rs 657 crore during the IPO.

Following Tuesday’s deals, Y Combinator will continue to hold a stake worth Rs 9,911 crore in Groww, while Ribbit Capital will retain holdings worth Rs 11,226 crore through two investment vehicles.

Under the deal structure, the selling shareholders will be subject to a 90-day, lock-up period, preventing them from offloading additional shares during that time. Following the expiry of Groww’s IPO lock-in period, nearly 418.2 crore shares of parent entity Billionbrains Garage Ventures, valued at over Rs 80,000 crore, became eligible for trading.

Other standout venture returns from India’s new-age companies include Info Edge, which seed-funded Zomato (now Eternal). The company invested around Rs 600-650 crore in the Gurgaon-based food delivery platform and currently holds a stake worth nearly Rs 29,000 crore. At the time of Zomato’s IPO in July 2021, Info Edge’s stake was valued at Rs 9,500 crore, and it had sold shares worth Rs 3,750 crore in the offer for sale component.

For Peak XV Partners, one of Groww’s earliest backers, the investment has emerged as its biggest winner. In April, Agrawal stepped down as nominee director on Groww’s board, following his departure from the venture capital firm.

Bengaluru-based Groww reported a sharp jump in revenue in the fourth quarter of FY26 while also more than doubling its net profit. Operating revenue rose 87% year-on-year to Rs 1,505 crore from Rs 801 crore, while net profit increased to Rs 686 crore from Rs 309 crore a year earlier.

The stockbroking platform, among India’s most valuable fintech companies, has also been expanding into new verticals such as margin trading facilities and commodities. In the fourth quarter of the previous fiscal year, the company said 55% of its revenue came from equity derivatives, 12% from lending, and around 20% from stocks and commodity derivatives, with the remainder contributed by newer business verticals.