Shares of Groww slid 3% to ₹192.22 on Wednesday, September 16, after a block deal that saw 10.41 crore shares—1.69 % of the company’s equity—change hands at ₹192 each, totaling ₹1,999 crore.
But the identities of the buyers and sellers remain undisclosed; sources report that Peak XV Partners Investments VI‑1 and Sequoia Capital Global Growth Fund III‑US/India Annex Fund, LP were the parties involved. The base offer capped at ₹19.18 crore for 1.6 % of outstanding shares, with a floor price of ₹191.45, and a 30‑day lock‑up on subsequent sales.
Ownership now stands at 27.14 % held by promoters, 71.75 % by public investors, and 1.11 % by the employee trust. Among public holders, Peak XV owns 15.68 % and Sequoia 1.46 %. These stakes are significant given the recent block deal, which shaved a sizable slice of the public share base.
Jefferies keeps a buy rating, citing a projected 30 % PAT CAGR for 2026‑29 driven by 18 % growth in broking and new ventures like MTF and wealth management. The firm also notes a potential 5‑9 % earnings lift from adding US equities by FY 2027, and a 10‑point margin expansion. With a current price target of ₹240, Jefferies sees upside in a company that has already surged 23.8 % year‑to‑date.
Market sentiment remains mixed; Groww is up 72.8 % from its listing price of ₹114 and 97 % from its issue price of ₹100, but the recent dip underscores volatility tied to large‑scale share transfers. Investors will be watching the upcoming earnings cycle and any resolution of the CAS issue, which could further influence the stock’s trajectory.