Groww IPO: Peak XV Pockets 52X Gain, Y Combinator Rakes In INR 1,054 Cr

SUMMARY

Peak XV Partners, which offloaded 15.82 Cr shares via Groww’s OFS, netted INR 1,582 Cr from its stake sale via the OFS route

Y Combinator initially invested in Groww in 2020, pocketed INR 1,054 Cr from Groww’s IPO by selling 10.54 Cr shares

Groww reported a net profit of INR 378.4 Cr in Q1 FY26, up 12% from INR 338 Cr in the same quarter last year

Early investors of fintech major Groww, whose shares are scheduled to list on the exchanges tomorrow, raked in big gains from its IPO.

Peak XV Partners, which offloaded 15.82 Cr shares via Groww’s OFS, netted INR 1,582 Cr from its stake sale at the upper end of the IPO price band of INR 95 to INR 100 per share. This translated to 52X return on the VC firm’s investment at an average acquisition cost of INR 1.91 per share.

Groww’s IPO comprised a fresh issue of up to INR 1,060 Cr and an offer for sale of shares worth up to INR 5,572 Cr.

Y Combinator, which initially invested in Groww in 2020, pocketed INR 1,054 Cr from Groww’s IPO by selling 10.54 Cr shares. At the upper end of the price brand, this translated to 29X gain on its average acquisition cost of INR 3.45 per share.

US-based investor Ribbit Capital offloaded shares via two of its investment vehicles – Ribbit Capital V, L.P. and GW-E Ribbit Opportunity V, LLC. It earned INR 656 Cr through its divestment via Ribbit Capital V, raking in a 43X return. Its share sale via GW-E Ribbit Opportunity V earned it 2.6X return.

Tiger Global, which held 6.05% stake in the company before the IPO, recorded a 4.5X gain on its investment by selling 5.18 Cr shares via the OFS.

US-based Alkeon Capital made 2.6X return on its investment in Groww, bagging INR 447 Cr through the OFS. Meanwhile, Nirman Ventures scored a whopping 126X return, while Sequoia Capital got 2.6X return after selling 1.47 Cr equity shares.

Groww’s IPO closed with a stellar 17.6X oversubscription, receiving bids for 641.86 Cr shares against 36.48 Cr shares on offer. The IPO valued the company at INR 61,700 Cr (around $7.4 Bn) at the higher end of the price band

On the financial front, Groww reported a net profit of INR 378.4 Cr in Q1 FY26, up 12% from INR 338 Cr in the same quarter last year. However, operating revenue declined 9.6% to INR 904.4 Cr from INR 1,000.7 Cr in Q1 FY25.

A few weeks before hitting the bourses, Groww also launched commodities trading on its platform.