Indian wealth management platform Groww to buy Indiabulls' mutual funds business

Indian wealth management platform Groww to buy Indiabulls' mutual funds business

Photo: Pradeep Gaur/Mint

Nextbillion Technology Pvt. Ltd, the parent which operates wealth management platform, Groww, on Tuesday said it has entered into a definitive agreement with Indiabulls Housing Finance Ltd (IBHFL) to acquire the mutual fund business of its subsidiaries Indiabulls Asset Management Company Limited (IAMCL) and Indiabulls Trustee Company Limited, for 175 crore ($24 million).

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