Indiabulls signs Rs 175 cr deal with Groww to exit mutual fund business
Groww will acquire Indiabulls Asset Management Company Limited and Indiabulls Trustee Company Limited (ITCL). The Rs 175-crore deal will include cash and cash equivalent of Rs 100 crore
BusinessToday.In | May 11, 2021 | Updated 20:27 IST
Indiabulls Housing Finance announced it will exit the mutual fund business to focus its management bandwidth and consolidate capital towards its core lending business. To this end, the housing finance company said it will sell its entire stake in mutual fund subsidiary to Nextbillion Technology, a part of the Groww Group, for a sum of Rs 175 crore.