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Investment platform Groww has completed the acquisition of Bengaluru-based wealth tech startup Fisdom after receiving approval from the Securities and Exchange Board of India (SEBI).
With this acquisition, Groww aims to strengthen its presence in the wealth management space and expand beyond its core stockbroking business. The company is also seeking to reduce its dependence on market-linked trading revenues as it prepares for its public debut.
A Moneycontrol report said the deal, signed in May, was an all-cash transaction worth about $150 million.
