India, Feb. 10 -- Venture capital firm Peak XV has offloaded over 1% stake in Nasdaq-listed SaaS major Freshworks for $52 Mn (around INR 454 Cr), as per a US Securities and Exchange Commission (SEC) filing.

The company has sold nearly 2.9 Mn shares though multiple market transactions between December 9, 2024 and January 28, 2025. These shares were priced between the range of $17 and $19.20 apiece.

Before selling the stake, Peak XV held 5% stake with over 11.70 Mn shares.

The development comes after Freshworks' founder and executive chairman Girish Mathrubootham sold 2.5 Mn shares of the company worth approximately $40 Mn in December last year. Post the sale, Mathrubootham's total stake in the company reduced to 232.98 Mn shares.

(The ...