Singapore’s GIC gets CCI approval to buy stake in IPO-bound Groww

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Viggo Investment, a subsidiary of Singapore’s sovereign fund rel=”dofollow” href=”https://economictimes.indiatimes.com/general-insurance-corporation-of-india/stocks/companyid-12266.cms” target=”_blank”>GIC, has received approval of Competition Commission of India (CCI) to acquire stake in the Billionbrains Garage Ventures, the IPO-bound owner of stockbroker Groww.

GIC had approached the competition regulator in May, seeking approval for acquiring a 2.14% stake in the Bengaluru-based fintech startup. 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…



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Singapore’s GIC gets CCI approval to buy stake in IPO-bound Groww



Viggo Investment, a subsidiary of Singapore’s sovereign fund rel=”dofollow” href=”https://economictimes.indiatimes.com/general-insurance-corporation-of-india/stocks/companyid-12266.cms” target=”_blank”>GIC, has received approval of Competition Commission of India (CCI) to acquire stake in the Billionbrains Garage Ventures, the IPO-bound owner of stockbroker Groww.

GIC had approached the competition regulator in May, seeking approval for acquiring a 2.14% stake in the Bengaluru-based fintech startup. 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…



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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