As many as 17.42 crore shares, representing 2.8% of the equity of Billionbrains Garage Ventures Ltd., the parent company of stockbroking platform Groww, changed hands in a block deal on Friday, November 6.
The transaction was valued at approximately ₹3,708 crore, with the shares changing hands at an average price of ₹215 apiece. The identities of the buyers and sellers were not immediately known.
In an interview with CNBC-TV18 last month, Groww said it expects to maintain its long-term annual revenue growth target of 25-30%, despite a temporary slowdown in its derivatives business following recent regulatory changes.
Ishan Bansal, Co-Founder and Chief Financial Officer of Billionbrains Garage Ventures, said the company expects equity derivatives volumes to recover as the Securities and Exchange Board of India’s (SEBI) consultation process progresses. Growth in other business segments and healthy initial public offering (IPO) activity are also expected to support overall performance.
Following the company’s July-September 2026 quarter results, Bansal said the sequential slowdown was largely restricted to the equity derivatives business after the cash-equivalent regulations came into effect on August 1. He said the company would have reported quarter-on-quarter growth across its overall business in the absence of the impact from these regulatory changes.
Bansal expressed confidence that equity derivatives activity would recover as the regulatory process progresses. He also said trading activity in September improved compared with August, although it was too early to assess trends for October.
Market volatility remains another key driver of Groww’s business, according to Bansal. Higher volatility typically leads to increased trading volumes, which in turn supports the company’s business performance.
Groww also benefited from a surge in IPO activity during the September quarter, with more than 30 public issues contributing to a sharp increase in other operating income. While the company does not disclose the exact contribution from IPO-related activity, Bansal expects this income stream to remain healthy in the current quarter, with several offerings lined up across October and November.