CCI Approves State Street's Proposed Acquisition Of Stake In Groww Asset Management

The Competition Commission of India (CCI) on Wednesday approved the proposed acquisition of shareholding in Groww Asset Management Limited, the asset management arm of the Groww investment platform, by State Street Global Advisors Inc., the asset management arm of State Street Corporation.

The proposed transaction relates to the acquisition of shareholding by State Street Global Advisors in Groww Asset Management Limited, a wholly owned subsidiary of Billionbrains Garage Ventures Limited that manages various schemes of Groww Mutual Fund, including equity, hybrid, debt and exchange-traded funds.

The Commission said the detailed order will follow.