Singapore’s GIC seeks CCI approval to acquire 2.14% stake in Groww

GIC, Singapore's sovereign wealth fund, has filed an application with the Competition Commission of India (CCI) seeking approval to acquire a substantial 21.4% stake in Groww, an Indian fintech platform focused on wealth management and investment services. The proposed transaction is valued at ₹9,200 crore, which pegs Groww's overall valuation at approximately ₹43,000 crore. If approved, this significant investment by GIC would likely intensify the competition within India's rapidly growing wealth technology sector, where Groww currently competes with established players like Zerodha and Upstox for market share and investor base.