GIC seeks CCI nod for 2.14% stake in IPO- bound Groww

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Singapore’s sovereign wealth fund GIC has approached the Competition Commission of India (CCI) to seek approval for acquiring a 2.14% stake in Bengaluru-based fintech startup Groww. The investment is part of a larger funding round estimated at $250-300 million.

GIC is expected to lead the round with an infusion of around $150 million, while Groww has also engaged with existing investor Tiger Global to participate. ET had first reported on the financing in its March 26 edition.

GIC has sought the CCI nod through Viggo Investment, a special purpose…



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GIC seeks CCI nod for 2.14% stake in IPO- bound Groww


Singapore’s sovereign wealth fund GIC has approached the Competition Commission of India (CCI) to seek approval for acquiring a 2.14% stake in Bengaluru-based fintech startup Groww. The investment is part of a larger funding round estimated at $250-300 million.

GIC is expected to lead the round with an infusion of around $150 million, while Groww has also engaged with existing investor Tiger Global to participate. ET had first reported on the financing in its March 26 edition.

GIC has sought the CCI nod through Viggo Investment, a special purpose…



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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