State Street Invests Rs 580-585 Crore in Groww AMC for Strategic Partnership

US financial services giant State Street is investing approximately Rs 580-585 crore in Groww Asset Management Company (AMC). The investment, expected to be completed within six months pending regulatory approvals, will involve a mix of primary and secondary share purchases, potentially diluting Groww AMC's stake by up to 23%. This strategic partnership aims to accelerate Groww's asset management business, enhance global investment capabilities for Indian investors, and explore international opportunities for Groww. State Street will acquire a significant economic stake while adhering to voting rights regulations.