YC’s Groww stake worth Rs 8,000 crore post IPO, leads the way for its India portfolio

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Bengaluru-based Groww’s successful listing on the bourses today has given Silicon Valley’s marquee early stage investor Y Combinator (YC) its first major exit via the Indian public markets.

According to Groww‘s prospectus, YC, which held around 12% stake in the wealthtech, has sold 2.01% of this, or 105 million shares. With the issue being oversubscribed, the accelerator is estimated to have pocketed around Rs 1,056 crore from the sale.

Groww raised Rs 6,600 crore from the IPO at a price band of Rs 95 to Rs 100 per share, valuing the company at Rs…



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YC’s Groww stake worth Rs 8,000 crore post IPO, leads the way for its India portfolio



Bengaluru-based Groww’s successful listing on the bourses today has given Silicon Valley’s marquee early stage investor Y Combinator (YC) its first major exit via the Indian public markets.

According to Groww‘s prospectus, YC, which held around 12% stake in the wealthtech, has sold 2.01% of this, or 105 million shares. With the issue being oversubscribed, the accelerator is estimated to have pocketed around Rs 1,056 crore from the sale.

Groww raised Rs 6,600 crore from the IPO at a price band of Rs 95 to Rs 100 per share, valuing the company at Rs…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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