Shares of Billionbrains Garage Ventures, the parent company of investment platform Groww, declined 3% to Rs 196 on the BSE on Wednesday after 12.75 crore shares (2.1% equity) changed hands in a Rs 2,500-crore block deal. The Economic Times reported that Ribbit Capital was set to launch a block deal to sell its stake in the company.
The shares were offered at a floor price of Rs 195 apiece (4% discount to the previous close), according to the terms of the deal. The floor price represents the minimum price at which Ribbit Capital is offering the shares to investors.
