Billionbrains Garage Ventures Limited (GROWW) has announced a significant strategic investment into its wholly-owned subsidiary, Groww Asset Management Limited (Groww AMC). The company, along with Groww AMC, has executed a Share Subscription and Share Purchase Agreement (SSPA) and a Shareholders' Agreement (SHA) with State Street Global Advisors, Inc. (Buyer).

Under the terms of the agreement, the Buyer will invest up to ₹5,8002,72,855 (₹580.03 crore) for a secondary purchase and primary subscription of shares in Groww AMC. This transaction will result in a dilution of up to 23% of the fully diluted share capital of Groww AMC. Following the transaction, the Buyer will hold no more than 4.99% of the aggregate voting power in Groww AMC.

Groww AMC, which manages the Groww Mutual Fund, will cease to be a wholly-owned subsidiary but will continue to remain a subsidiary of Billionbrains Garage Ventures Limited. The investment is intended to meet certain working capital needs and pursue further growth opportunities for Groww AMC.

The Share Subscription and Share Purchase Agreement was executed on January 14, 2026. The Proposed Transaction is expected to be completed within six months from the agreement date, subject to regulatory and other necessary approvals, and the fulfillment of conditions stipulated in the SSPA. Groww AMC was incorporated on April 10, 2008, and as of March 31, 2025, its turnover was ₹16.94 crore, with a net worth of ₹177.13 crore contributing 3.66% to BGV's consolidated financials. The transaction is considered an arm's length transaction and is not between related parties, although Mr. Harsh Jain, a promoter and director of Billionbrains Garage Ventures Limited, also serves as a director of Groww AMC.