CCI Approves GIC’s Investment In IPO-Bound Groww

In the run up to Groww’s IPO, the Competition Commission of India (CCI) has approved Singapore sovereign fund GIC’s stake acquisition in the fintech unicorn. 

In a statement, the CCI said it approved the proposal of GIC Ventures’ subsidiary Viggo Investment to buy a 2.14% stake in the investment tech major. The investor had sought the CCI’s approval for the transaction in May. 

Last month, Groww’s board approved the allotment of 1.8 Cr Series F CCPS for INR 869 Cr and 1,000 equity shares to GIC for INR 96,560. Groww closed the…