How Asset Management Can Be Groww’s Biggest Strategic Bet Yet

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Groww has never been shy about its ambition of becoming more than a broking app. Its latest deal with State Street Investment Management (SSIM) suggests that its ambition is now shifting from treating asset management as an adjacent offering to making it a core pillar of its business.

Nearly three years after its foray into the mutual fund business, Groww is selling a 23% stake in its asset management arm, Groww AMC, to SSIM for INR 580.02 Cr through a mix of primary and secondary capital.

The significance of the transaction lies less in…



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How Asset Management Can Be Groww’s Biggest Strategic Bet Yet


Groww has never been shy about its ambition of becoming more than a broking app. Its latest deal with State Street Investment Management (SSIM) suggests that its ambition is now shifting from treating asset management as an adjacent offering to making it a core pillar of its business.

Nearly three years after its foray into the mutual fund business, Groww is selling a 23% stake in its asset management arm, Groww AMC, to SSIM for INR 580.02 Cr through a mix of primary and secondary capital.

The significance of the transaction lies less in…



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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