Weeks After Zerodha’s Mutual Fund JV, Groww Completes Acquisition Of Indiabulls’ MF Business

Weeks After Zerodha’s Mutual Fund JV, Groww Completes Acquisition Of Indiabulls’ MF Business

SUMMARY

Groww has executed the acquisition of the mutual fund business of IndiaBulls Housing Finance for a consideration of INR 175.6 Cr

While the cash equivalent of the deal stood at INR 100.62 Cr, the move will enable Groww to launch new mutual fund offerings

The company saw its losses surge to INR 239 Cr in FY22, compared to a profit of INR 167.6 Cr in FY21

Investech unicorn Groww has executed the acquisition of the mutual fund business of Indiabulls Housing Finance for a consideration of INR 175.6 Cr.

“We have… informed the exchanges about the divestment by the Company of its entire stake in the mutual fund business, being carried out by Indiabulls Asset Management Company Limited, to Nextbillion Technology at an aggregate purchase consideration of INR 175.62 Cr (including cash and cash equivalents of INR 100.62 Cr),” said Indiabulls in a regulatory filing.

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