Groww Bids To Acquire PGIM India AMC To Strengthen AMC Unit: Report

by · Inc42

SUMMARY

  • The company is competing with Edelweiss Asset Management for the loss-making Indian AMC owned by US-based Prudential Financial
  • Important to mention that PGIM is looking to exit its Indian asset management business after limited growth since acquiring it from Deutsche Bank AG nearly a decade ago
  • For Groww, the potential acquisition would mark a significant step beyond its core broking and mutual fund distribution business