Major shareholders of Billionbrains Garage Ventures Ltd, known as Groww, are preparing to execute a significant block deal today, Wednesday, September 16, 2026. The transaction involves the sale of 10.02 crore company shares, valued at approximately $200 million, at a floor price of Rs 191.45 per share.
This price marks a 3.08% discount compared to Groww's previous closing price of Rs 197.55 per share. Among the prominent sellers are Peak XV Partners Investments VI-1 and Sequoia Capital Global Fund III - US/India Annex Fund.
Details of the Groww Block Deal
The base offer size for this Groww block deal is reported to be up to 1.6% of the company’s existing total shares outstanding (TSO). Following the sale, the shares involved will be subject to a 30-day lock-up period, restricting further sales by the participants during this time.
This isn't the first time Groww has seen substantial block trading. In August, the company experienced two block trades where 7.78 crore shares changed hands, amounting to nearly Rs 1,500 crore. These previous transactions accounted for about 1.2% of Groww’s total outstanding equity at the time, with shares trading at approximately Rs 193.45 and Rs 193.10 apiece.
Analyst Outlook and Target Prices
Despite the recent share sales, market sentiment remains largely positive for Groww. The stock holds a consensus 'Buy' rating from analysts, with eight 'Buy' calls and one 'Hold' recommendation. The 12-month target price for Groww stock is Rs 241.67, suggesting a potential upside of 22.3% from current levels.
- Jefferies: Suggested a 'Buy' with a target of Rs 240 earlier this month.
- Kotak Institutional Equities: Recommended a target of Rs 245 last month.
- Citi: Holds a target of Rs 255 on the stock.
- Avendus Spark: Set its target at Rs 240.
- UBS: Suggested a target of Rs 210 in July.
These analyst projections indicate continued confidence in Groww's future performance, even as early investors capitalize on their holdings through block deals.