GIC seeks CCI nod for 2.14% stake in IPO- bound Groww

Singapore’s sovereign wealth fund GIC has approached the Competition Commission of India (CCI) to seek approval for acquiring a 2.14% stake in Bengaluru-based fintech startup Groww. The investment is part of a larger funding round estimated at $250-300 million.

GIC is expected to lead the round with an infusion of around $150 million, while Groww has also engaged with existing investor Tiger Global to participate. ET had first reported on the financing in its March 26 edition.

GIC has sought the CCI nod through Viggo Investment, a special purpose…