The floor price represents a 3.1% discount to Groww’s last closing price, sources said. The base offer size is up to 1.6% of the company’s existing total shares outstanding (TSO), amounting to ₹19.18 crore, the terms showed. The shares will be subject to a 30-day lock-up on further sale.
Back in August this year, as many as 12.74 crore shares, or 2.1% equity of Billionbrains Garage Ventures worth ₹2,500 crore, changed hands in block deals.
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First Quarter Results
Groww’s revenue remained flat on a sequential basis at ₹1,501 crore compared to ₹1,505 crore in the March quarter. Net profit for the quarter grew by 7% to ₹735 crore from ₹686 crore last year.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter stood at ₹970 crore, which is a 3.4% growth from the March quarter figure of ₹938 crore, while EBITDA margins expanded by 230 basis points sequentially to 64.6% from 62.3% earlier, led by lower other expenses.
The lower other expenses more than offset the rise in employee benefit expenses, which grew by 5% from the previous quarter.
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At the end of the June quarter, promoters held a 27.14% stake in the company while public shareholders held the remaining 71/75% stake. Shares of Billionbrains Garage Ventures Ltd ended at ₹197.55, down by ₹2.65, or 1.32%, on the BSE.
