Tech
Singapore’s GIC gets CCI approval to buy stake in IPO-bound Groww
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Viggo Investment, a subsidiary of Singapore’s sovereign fund GIC, has received approval of Competition Commission of India (CCI) to acquire stake in the Billionbrains Garage Ventures, the IPO-bound owner of stockbroker Groww.
GIC had approached the competition regulator in May, seeking approval for acquiring a 2.14% stake in the Bengaluru-based fintech startup. 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…
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