State Street to Invest Rs 580 Crore in Groww AMC Amid Parent Company's Q3 Profit Decline

Billionbrains Garage Ventures, parent of Groww, reported a 28% year-on-year decline in Q3 FY26 net profit to Rs 547 crore, despite a 25% rise in revenue to Rs 1,216 crore driven by user growth and product diversification. Concurrently, US-based State Street Investment Management agreed to invest Rs 580 crore in Groww Asset Management Company, acquiring up to a 23% stake with voting rights capped at 4.99%, aiming to enhance Groww's asset management capabilities and global reach. The transaction is expected to complete within six months, pending regulatory approvals.