Markets regulator Sebi has approved US-based State Street Global Advisors' proposed stake acquisition in Groww Asset Management, a wholly-owned subsidiary of Billionbrains Garage Ventures, the investment platform said on Monday.
Following the proposed transaction, SSGA will acquire shares in Groww AMC and, upon completion of the deal, will hold voting rights of 4.85 per cent and an economic interest of 22.94 per cent in the fully diluted share capital of the asset manager.
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The development follows earlier approvals from the company's board and the Competition Commission of India (CCI) for the proposed transaction.
"Securities and Exchange Board of India (Sebi) has, vide its communication dated June 1, 2026, taken on record the proposed change in shareholding of Groww AMC, a wholly owned subsidiary of the company, pursuant to the proposed transaction, without any change in control of Groww AMC," Billionbrains Garage Ventures said in a filing to the stock exchanges.
The company had earlier informed stock exchanges about the board's approval for the transaction on January 14 and the Competition Commission's approval on March 26.
Groww AMC manages mutual fund schemes under the Groww brand and is part of the fintech group operated by Billionbrains Garage Ventures.
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