State Street to invest Rs 580 crore in Groww's asset management arm
14 Jan 2026, 04:00 PMGroww Asset Management is also entering into a strategic relationship agreement with the buyer.
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Groww, which listed on the bourses late last year, said that the US-based asset management company State Street Global Advisors, Inc has agreed to invest up to Rs 580 crore in Groww Asset Management Ltd.
Post the transaction, State Street Global Advisors will not hold more than 4.99% of the aggregate voting power in Groww Asset Management, said Groww in a stock exchange filing. The deal involves a secondary purchase and primary subscription of shares resulting in dilution of up to 23% of the fully diluted share capital of Groww Asset Management, it added.
Groww Asset Management is also entering into a strategic relationship agreement with the buyer, it stated.
Groww Asset Management, which was incorporated on April 10, 2008, is a wholly-owned subsidiary of Groww and is an investment manager of Groww Mutual Fund.
The purpose of the investment is to meet certain working capital needs and to pursue further growth opportunities.
On completion of the said transaction, Groww Asset Management will continue to remain a wholly owned subsidiary of the company, it added.
Groww Asset Management had a turnover of Rs 1,694.2 crore in FY25 as compared to Rs 1,152.4 crore in FY24 and Rs 322 crore in FY23.
The proposed transaction is expected to be completed within six months.
In November last year, Groww, which is operated by Billionbrains Garage Ventures, made a strong debut on the exchanges.
Groww's shares on Wednesday closed at Rs 164.25 apiece on the BSE, up 0.95% from the previous close.
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