Groww AMC closes State Street’s Rs 580 Cr strategic investment
- ByStartupStory | September 1, 2026
Groww Asset Management has completed the strategic investment from State Street Investment Management, formally closing a deal first announced in January this year.
The partnership gives State Street a 23% economic interest and 4.85% voting rights in Groww AMC, following the completion of all necessary regulatory approvals. The transaction involved an investment of up to Rs 580 crore through a mix of primary subscription and secondary purchase of shares.
The deal brings together Groww’s asset management business and State Street Investment Management, the asset management arm of US-based financial services giant State Street. State Street had about $5.4 trillion in assets under management as of September 2025.
For Groww, the partnership comes as its AMC business continues to scale. The company had Rs 4,119 crore in assets under management and 1.2 million unique investors as of December 2025, according to Groww’s shareholder letter. Its AUM had nearly tripled year-on-year to around Rs 4,730 crore by May 2026.
Groww said the partnership will give its AMC access to State Street’s expertise in indexing, ETFs, systematic investing, macroeconomic research and portfolio construction. The collaboration is also expected to support product development, distribution and access to global markets.
The transaction had been awaiting regulatory clearances since the original announcement. The Competition Commission of India (CCI) approved State Street’s acquisition of a stake in Groww AMC in March 2026.
The deal also comes as fintech-led AMCs are gaining ground in India, with platforms such as Groww and Zerodha using their large retail investor bases to push mutual funds and passive investment products.
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