Groww Asset Management Company (AMC) has closed its Rs5.8bn ($64.2m) investment agreement with State Street Investment Management following the receipt of necessary regulatory clearances.
As part of the arrangement, State Street Investment Management will own a 4.85% voting stake in Groww AMC and a 23% economic interest.
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The companies had disclosed the transaction in January 2026.
The deal comes as Groww AMC broadens its mutual fund operations across both active and passive segments, including exchange-traded funds, index funds and fund of funds.
For State Street, the investment increases its exposure to India’s growing asset management sector.
At the time of the January announcement, State Street said the tie-up would deepen its footprint in the country and support the offering of India-focused investment strategies to clients around the world.
State Street Investment Management CEO Yie-Hsin Hung said: “With this transaction now complete, we are excited to partner with Groww AMC to drive their next growth phase. Our shared goal is to expand asset class access for local investors while strengthening the institutional bridge connecting India’s financial markets to the global investment community.”
For Groww AMC, the agreement brings in a global asset manager as a strategic shareholder while it develops its product range and investment capabilities.
Groww is seeking to widen its investment platform beyond domestic offerings. The company plans to set up a GIFT City platform aimed at giving Indian investors access to international investment opportunities.
Groww co-founder Harsh Jain said: “Having State Street Investment Management as an investor and partner brings valuable global experience and perspectives that can help us strengthen our capabilities and build for the long term.”
