The process of formation of nanoparticles obtained by mixing two micellized, aqueous solutions has been simulated using the Monte Carlo technique. The model includes the phenomena of finite nucleation, growth via intermicellar exchange, and coagulation of nanoparticles after their formation. Using the model, an exploratory study has been conducted to analyze whether the coagulation of nanoparticles is the reason for the formation of nanoparticles whose sizes are comparable to the size of the reverse micelles. The model explains the possible mechanism of coagulation of semiconductor nanoparticles formed within reverse micelles and its effect on the evolution of their size with time. The model is predictive in nature, and the simulation results compare well with those observed experimentally.