Asset management firm State Street backs Groww AMC with $65 Mn investment

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US-based asset management firm State Street Investment Management has invested Rs 580 crore, or approximately $65 million, in Groww Asset Management Limited, a wholly owned subsidiary of Groww, as per Groww’s exchange filing.

Groww AMC is an investment manager of Groww Mutual Fund which manages various funds of Groww Mutual Fund.

According to the filing, the proposed transaction includes around Rs 381 crore through secondary share purchases, while approximately Rs 199 crore will be infused as fresh capital, potentially diluting Groww AMC’s share…



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Asset management firm State Street backs Groww AMC with $65 Mn investment


US-based asset management firm State Street Investment Management has invested Rs 580 crore, or approximately $65 million, in Groww Asset Management Limited, a wholly owned subsidiary of Groww, as per Groww’s exchange filing.

Groww AMC is an investment manager of Groww Mutual Fund which manages various funds of Groww Mutual Fund.

According to the filing, the proposed transaction includes around Rs 381 crore through secondary share purchases, while approximately Rs 199 crore will be infused as fresh capital, potentially diluting Groww AMC’s share…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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