Shares of Groww-parent Billionbrains Garage Ventures were part of a steep selloff on Wednesday, September 16 and declined 4.65% on the NSE post a sizeable block trade in the counter.
Close to 10.07 crore shares, representing roughly 1.6% of the company's outstanding equity, were reportedly traded through the block deal.
The deal came amid reports that Peak XV Partners Investments VI-1 and Sequoia Capital Global Growth Fund III - US/India Annex Fund, L.P. were seeking to offload part of their stake in the counter.
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The shares may have been sold at a floor price of Rs 191.45 apiece, according to media reports. The reported deal price was lower than Billionbrains Garage Ventures' previous closing level.
The shares fell to a low of Rs 188.40 apiece, but later pared some losses to trade 3.7% lower at Rs 190.20 as of 11:05 a.m. on the NSE.
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