Venture capital firm Peak XV Partners has made huge profits from the listing of Groww and Pine Labs. Both these companies were listed this week. Peak XV Partners had a bet of Rs 354 crore on Gro and Pine Labs and has generated returns of over 64 times. Grow’s parent company BillionBrains Garage Ventures had launched an IPO of Rs 6,632.30 crore, which was subscribed 17.60 times. The company was listed on the stock market on 12 November. Pine Labs’ Rs 3,900.17 crore IPO was subscribed 2.48 times and was listed on November 14.
groww Peak XV Partners’ investment in
Peak XV Partners began investing in Grow in 2019. Over several years, this investment grew to a total of Rs 233 crore (approximately $26 million at the US$/Rupee exchange rate on November 14). By the close of trading on November 14, its stake in Groww was worth Rs 15,720 crore (about $1.8 billion) at the closing share price. Peak XV Partners has already made good profits by selling shares worth Rs 1,583 crore in Groww.
How much to invest in Pine Labs
Peak XV Partners started investing in Pine Labs in 2009. Since then, it has invested a total of Rs 121 crore (about $14 million as per the US$/Rupee exchange rate) in Pine Labs. According to the per share value at the close of business on November 14, today Peak XV Partners’ stake in the company is Rs 4851 crore (about $ 55 crore). Let us tell you that the venture capital firm had sold shares worth Rs 508.35 crore under offer-for-sale during the IPO of Pine Labs. That means it has already earned some profit.
Grow’s shares rose almost 50 percent from IPO price
Shares of Grow closed at Rs 148.41 on BSE on Friday, November 14. This is 48.41 percent more than the IPO price. The market cap of the company is more than Rs 91600 crore. Whereas Pine Labs shares closed at Rs 251.30 on BSE on November 14. This is 13.71 percent more than the IPO price. The market cap of this company is more than Rs 28800 crore.
Disclaimer: The information provided here is being given for information only. It is important to mention here that investing in the market is subject to market risks. As an investor, always consult an expert before investing money. Moneycontrol never advises anyone to invest money here.