US-based venture capital firm Y Combinator has sold a 1.19 percent equity stake in Billionbrains Garage Ventures, the parent company of wealth management platform Groww, via open market transactions on August 18. According to reports, YC Holdings II LLC offloaded 7.46 crore equity shares representing the 1.19 percent stake in Groww for ₹1,435.2 crore. The selling price was set at ₹192.16 per share. The stake sale news reflected in the stock price, which fell 2.46 percent to ₹193.81 amid high volumes on the National Stock Exchange.
Meanwhile, Ace investor Vijay Kedia-owned Kedia Securities has acquired 20 lakh equity shares (1.48 percent stake) in Zaggle Prepaid Ocean Services, the technology-led spend management solutions provider, for ₹32.94 crore at ₹164.72 per share via bulk deals on Tuesday. As reported by The Financial Express, the purchase came after the stock crashed sharply, with shares hitting a fresh 52-week low of ₹154.36 on August 18, more than halving from its 52-week high of ₹418 in August last year. The acquisition triggered significant market response, with Zaggle shares surging 17.4% to ₹198.80 in Thursday's intraday trading amid heavy volumes, extending the rally to over 17 percent over three sessions. The stock had hit a record low of ₹154.36 on August 18, falling below its issue price of ₹164 per share, before bouncing back 26 percent from Tuesday's low.
The Zaggle stock demonstrated remarkable trading activity, with 10.61 million equity shares changing hands in the first 12 minutes of trade on NSE and BSE on Wednesday. On Wednesday, Zaggle Prepaid Ocean Services opened at ₹187.40 against its previous close of ₹165.88 and jumped as much as 17.4% to an intraday high of ₹198.80. In the previous session, the stock ended 3.36% higher at ₹165.88 after rebounding from an intraday record low. At 09:27 AM, Zaggle quoted 10.5 percent higher at ₹183.28 on the NSE, significantly outperforming the broader market where the Nifty 50 declined 0.22 percent. However, despite today's sharp gains, Zaggle shares remain over 9% down in a week, 14% down in a month and 27% down in 2026 so far, with the stock falling more than 55% in one year.
In separate transactions, HDFC Mutual Fund sold 5.32 lakh equity shares (0.5 percent stake) in Cyient, the engineering services & digital transformation solutions provider, for ₹854.01 per share, valued at ₹45.47 crore. The stock price ended at ₹858.55, down 1.09 percent on the NSE. Lloyds Enterprises bought 97,622 shares (2.67 percent stake) in Welspun Investments & Commercials for ₹17.47 crore at ₹1,790 per share. Larsen & Toubro acquired 2.08 crore units in Nxt-Infra Trust for ₹199 crore at ₹95.33 per unit, while AK Capital Finance sold the same number of units for ₹200.67 crore at the same price.
Zaggle reported mixed financial results for Q1FY27, with revenue from operations rising 27.5 percent to ₹423.26 crore compared to ₹331.96 crore in the previous year. However, consolidated net profit declined 32.9 percent to ₹17.53 crore from ₹26.11 crore in the year-ago period. The company's adjusted EBITDA margin declined to 8.2 percent in Q1 FY27 from 10.1 percent in Q1 FY26, attributed to expenses related to the Dice acquisition including transaction costs, vendor payments, and relocation expenses for over 100 professionals. Revenue from Dice contracts was not captured in Q1FY27 and will start reflecting from Q2FY27 onwards. Commenting on the Q1 performance, Raj P Narayanam, Founder and Executive Chairman of Zaggle Prepaid Ocean Services, said "Q1 FY27 marks an important inflection point for Zaggle as we move from a decade of profitable growth into a phase of transformation through consolidation." He added that the company's focus is now on optimising core operations, scaling AI across its platforms and integrating recent acquisitions while calibrating capitalisation and instilling greater cash flow discipline.
