So, the new unicorn in town is shaking things up in the fintech space.
Groww, the Bengaluru-based mutual fund platform, has decided to enter the big leagues with the announcement of acquiring an asset management company, or AMC in mutual fund parlance. It has entered into a definitive agreement with Indiabulls Housing Finance Ltd to acquire the mutual fund business of its subsidiaries Indiabulls Asset Management Co. Ltd and Indiabulls Trustee Co. Ltd, the trustee of the AMC, for Rs 175 crore (of which Rs 100 crore is in cash).
Let us leave the technicalities and the value of the …
Arti is a former writer at The Morning Context. She previously worked with publications such as ET Prime, VCCircle, Firstpost and EETimes. Arti has keenly tracked the evolution of financial technology in India and written some of the defining pieces on the ecosystem as it birthed and matured. Even when not writing about it, she loves to dissect the revenue models, margins and regulations that are shaping the sector.
artisingh@mailtmc.com