India, Nov. 11 -- Early investors of fintech major Groww, whose shares are scheduled to list on the exchanges tomorrow, raked in big gains from its IPO.

Peak XV Partners, which offloaded 15.82 Cr shares via Groww's OFS, netted INR 1,582 Cr from its stake sale at the upper end of the IPO price band of INR 95 to INR 100 per share. This translated to 52X return on the VC firm's investment at an average acquisition cost of INR 1.91 per share.

Groww's IPO comprised a fresh issue of up to INR 1,060 Cr and an offer for sale of shares worth up to INR 5,572 Cr.

Y Combinator, which initially invested in Groww in 2020, pocketed INR 1,054 Cr from Groww's IPO by selling 10.54 Cr shares. At the upper end of the price brand, this translated to 29X ga...