US giant State Street Investment Management to pump in Rs 580 crore in Groww AMC

State Street invests in Groww's AMC business

• State Street invests $65 million in Groww AMC to boost asset management business
• Groww AMC remains a wholly owned subsidiary after the investment
• Transaction expected to complete within six months pending approvals

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US-based financial services giant State Street will invest $65 million (Rs 580 crore) in Groww AMC to accelerate the asset management business in one or more tranches, the company said on January 14.

Groww AMC is the wholly-owned subsidiary of Billionbrains Garage Ventures, the listed entity. The cash investment will help Groww meet working capital needs and pursue further growth opportunities, the company said. Groww AMC will continue to remain a wholly owned subsidiary of the company.

The deal values Groww AMC at around Rs 2,600 crore, and State Street is expected to pick up a 23 percent stake in the company after the necessary regulatory approvals, while the voting rights will be restricted to 4.9 percent.

Groww AMC acts as the investment manager to Groww Mutual Fund, which had an asset base of Rs 4,200 crore as of January 2026.

Groww acquired the mutual fund business of Indiabulls in May 2023 for Rs 175 crore. The business had an AUM of Rs 342 crore at the time of acquisition.

Incorporated in 2008, the company reported Rs 17 crore revenue for the year ended March 2025.

Investment to complete in six months

“The proposed transaction is expected to be completed within six months from the agreement date or such other date mutually agreed between the company and the buyer, subject to receipt of the requisite regulatory and other approvals, as applicable,” the announcement said.

Boston-headquartered State Street Corporation is one of the world’s leading providers of financial services to institutional investors, including investment servicing, investment management, and investment research and trading. The firm has $51.7 trillion in assets under custody and/or administration and USD 5.4 trillion in assets under management as of September 30, 2025.

State Street Investment Management serves is the asset management division of State Street Corporation. State Street Global Advisors Inc. is an entity that operates under the “State Street Investment Management” brand.

Q3 results

On January 14, the Bengaluru-based wealth-tech company reported a 28 percent year-on-year decline in net profit for the third quarter of FY26, even as operating performance remained strong and revenue rose sharply.

Groww posted a strong operating performance in the quarter, with revenue rising 26 percent year-on-year to Rs 1,261 crore and adjusted profit after tax up 24 percent, driven by user growth, market-share gains across equities and derivatives, and higher contributions from newer products.