IPO Rush: Peak XV turns ₹600 crore bet into a ₹28,000 crore windfall through three issues

The IPO market in India is in the middle of an extraordinary moment, one that has handed Peak XV Partners one of the most profitable seasons in the history of domestic venture investing.

In just one quarter, and from only three IPOs, the venture firm has seen value creation of more than ₹28,000 crore.

The numbers are staggering. From Groww, Pine Labs and Meesho alone, Peak XV booked realised gains worth ₹2,420 crore through offer-for-sale transactions.

The bulk of the windfall, though, sits in unrealised gains, the value of the shares they continue to hold at IPO pricing. At these levels, their remaining stakes in the three companies amount to ₹26,280 crore: ₹15,720 crore in Groww, ₹4,850 crore in Pine Labs and ₹5,710 crore in Meesho.

Put together, the value creation from this trio crosses ₹28,000 crore, all from less than ₹600 crore of capital originally invested. It is an outcome that underscores how the country's consumer internet and fintech ecosystem has begun to produce large, liquid public-market successes at scale.

And the story isn't over. Peak XV is also set to benefit massively from the upcoming Wakefit IPO.

The firm first invested at ₹20.5 per share; the IPO is now priced at ₹195. In the OFS, Peak XV will sell 2.04 crore shares, locking in about ₹355 crore, a 9.5x return.

Even after taking that money off the table, it will still hold 4.98 crore shares valued at around ₹972 crore.

Peak XV remains the largest institutional shareholder in Wakefit and stands to be the biggest beneficiary of its market debut.

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