State Street agreed on 14 January to invest up to ₹580 crore in Groww Asset Management, the investment manager of Groww Mutual Fund, for an economic stake of up to 23%.
Why State Street Corporation is buying Groww Asset Management (23%)
Groww said the money would be used to meet working capital needs and pursue further growth opportunities at the fund manager. Groww AMC is also entering into a strategic relationship agreement with State Street.
Deal terms and financing
The investment is split between about ₹381 crore for existing shares bought from Billionbrains Garage Ventures and about ₹199 crore of fresh equity. State Street's voting power was capped at 4.99%, so Groww AMC remains a subsidiary of the listed parent. Groww AMC had turnover of ₹169.42m in the year to March 2025.
Regulatory approvals and timing
Completion was subject to regulatory approvals and targeted within six months. Groww told the exchanges on 4 August 2026 that all conditions had been met and the deal had closed, with State Street holding 4.85% of voting rights and 22.94% of the economic interest (NSE filing).
Market context
Groww had about 1.21 crore active broking clients and a 27.06% share of the market in December 2025, according to Entrackr. State Street reported $5.4tn of assets under management at the end of September 2025.
