The board of  Billionbrains Garage Ventures at its meeting held on 14 January 2026 has approved the acquisition of further shares in Groww Asset Management, a wholly owned non-material subsidiary.

The board also approved the execution of the Share Subscription and Share Purchase Agreement (SSPA), Shareholders' Agreement (SHA) between the Company, Groww Asset Management (Groww AMC) and State Street Global Advisors, Inc. (Buyer) for an investment into Groww AMC and noted the execution of Strategic Relationship Agreement between Groww AMC and the Buyer.

The Company, along with Groww AMC, its wholly owned non-material subsidiary, has executed the SSPA and SHA with the Buyer. Pursuant to the SSPA, the Buyer has agreed to invest upto Rs 580.02 crore for a secondary purchase and primary subscription of shares resulting in dilution of up to 23% of the fully diluted share capital of Groww AMC (Proposed Transaction).

Upon completion of the Proposed Transaction, the Buyer will not hold more than 4.99% of the aggregate voting power of the Groww AMC. Groww AMC is also entering into a strategic relationship agreement with the Buyer which shall be effective on a date agreed in writing between the Buyer and Groww AMC.

Groww AMC, a wholly owned subsidiary of the Company, acts as the Investment Manager to Groww Mutual Fund. Upon consummation of the Proposed Transaction, Groww AMC will cease to be a wholly owned subsidiary and continue to be a subsidiary of the Company.