Global asset manager State Street Investment Management is preparing to invest $65 million (approximately Rs 580 crore) in Groww Asset Management Company (AMC). Consequently, the investment represents a significant strategic move in India’s rapidly expanding wealth management landscape.
Of the total proposed investment, investors will allocate around Rs 381 crore toward secondary share purchases, while they will infuse approximately Rs 199 crore as fresh capital, thereby diluting Groww AMC’s share capital by up to 23%.
Through this investment, State Street aims to build global investment capabilities and develop new products tailored for Indian investors, while simultaneously enabling Groww to explore expansion opportunities beyond India.
Meanwhile, the strategic investment arrives at a time when Indian retail participation across asset classes continues to broaden, and global fund managers increasingly seek local partners with large-scale digital distribution platforms. As a result, the deal highlights a growing convergence between global asset managers and Indian wealthtech ecosystems.
Notably, the transaction also marks a rare instance of a major global fund manager making a direct investment in the AMC business of an Indian wealthtech platform.
From a financial performance perspective, Groww reported revenue of Rs 1,261 crore in the December quarter (Q3 FY26), reflecting a 26% year-on-year increase. However, during the same period, the company recorded a 28% year-on-year decline in net profit to Rs 547 crore.
