Groww plans to sell 23% stake in mutual fund unit to US firm for ₹580 crore

Grow plans to sell 23% of its stake in Groww Mutual Fund (MF) to US-based State Street Global Advisors for ₹580 crore, valuing Groww MF at ₹2,500 crore. Groww had acquired 100% stake in Indiabulls' MF business for ₹175 crore in 2023. The value of Groww's investment in Indiabulls' mutual fund (MF) business, now called Groww MF, has jumped 14x.