The Groww logo Photo credit: DHIRAJ SINGH
State Street Investment Management-backed Groww Asset Management Ltd. and Edelweiss Asset Management have made a bid for PGIM India Asset Management Pvt Ltd., the people said, asking not to be named because the information is private.
PGIM Inc. is planning to sell its loss-making Indian asset management unit after little meaningful expansion since the company’s acquisition from Deutsche Bank AG a decade ago. Negotiations are ongoing and no deal has been finalized yet, the people said.
PGIM declined to comment, while Groww AMC and Edelweiss AMC did not respond to a request for comment.
Global asset managers are investing in India to take advantage of the ongoing stock market boom. State Street Investment Management acquired a minority stake in Groww AMC earlier this month. Similarly, Westbridge Capital bought a stake in Edelweiss AMC in August, while Johannesburg-based Sanlam Emerging Markets (Mauritius) Ltd. acquired a stake in Shriram AMC in May.
PGIM has assets in fixed income, equities, alternatives and real estate. According to PGIM’s annual report, India’s after-tax losses rose to more than 23.5 cr ($2.6 million) in the year ended March 2025.
Published on January 30, 2026
#Growth #among #bidders #Prudentials #Indian #asset #management #business