News From Press Indiabulls get CCI nod to sell mutual fund business to Groww for ₹175 cr

Indiabulls get CCI nod to sell mutual fund business to Groww for ₹175 cr

Source: Mint Sep 11, 2021

Indiabulls Housing Finance (IBHFL) has received the approval of Competition Commission of India (CCI) to sell its mutual fund business to Groww for ₹175 crore.

The company's wholly-owned subsidiaries Indiabulls Asset Management Company Ltd (IMACL) and Indiabulls Trustee Company Ltd (ITCL) had entered into a definitive transaction agreement on May 11, 2021 with Nextbillion Technology, which does business as Groww, for divestment of mutual fund business carried out by these two entities.

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