Latest news with #Groww
Time of India
2 days ago
- Business
- Time of India
Groww Mutual Fund sees 6x surge in AUM post acquiring Indiabulls Asset Management Company
Groww Mutual Fund , the AMC arm of the IPO-bound Groww has seen a significant rise in its assets under management ( AUM ) touching nearly Rs 2,000 crore as of May 2025. It registered a sixfold jump from the Rs 342 crore it managed when it acquired Indiabulls Asset Management Company in May 2023, according to the company's statutory disclosure, according to a press release by the fund house. The sharp rise in AUM signifies Groww Mutual Fund's steady foray into asset management, even as its parent company Groww (Billionbrains Garage Ventures) prepares for an initial public offering ( IPO ). Best MF to invest Looking for the best mutual funds to invest? Here are our recommendations. View Details » by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 'I Didn't Feel Like a Man Anymore' – Then He Found This Men Oil Natural Potency Boost Undo Also Read | Consistent performers: 10 equity mutual funds deliver over 30% CAGR in 3 and 5-year periods The company had filed confidential papers with SEBI last month and is reportedly aiming for a valuation worth of $7 billion, backed by a recent $200 million round from Iconiq Capital and GIC , the release said. Live Events Groww reported a strong growth in earnings in FY25, with profit rising threefold year-on-year to Rs 1,819 crore. Revenues touched Rs 4,056 crore, up 31% YoY, despite industry-wide pressures such as reduced exchange rebates and evolving tax norms for brokers. Groww Mutual Fund - operated under Groww, and formerly Indiabulls AMC - offers a limited but focused suite of active and passive funds. With funds spanning across equity, hybrid, debt, and thematic categories, popular schemes include the Groww Nifty EV & New Age Automatic Index fund, Groww Total Market Index Fund, Groww Value Fund, Groww ELSS Tax Saver Fund, Groww Large Cap Fund, etc. Also Read | Best corporate bond mutual funds to invest in June 2025 The company recently announced the acquisition of wealth management platform Fisdom in a $150 million all-cash deal, signalling its ambition to deepen presence across the personal finance lifecycle - from SIPs and discount stock broking to advisory-led wealth management. (Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) If you have any mutual fund queries, message on ET Mutual Funds on Facebook/Twitter. We will get it answered by our panel of experts. Do share your questions on ETMFqueries@ alongwith your age, risk profile, and twitter handle.
Economic Times
2 days ago
- Business
- Economic Times
Groww Mutual Fund sees 6x surge in AUM post acquiring Indiabulls Asset Management Company
Groww Mutual Fund's AUM has surged to nearly Rs 2,000 crore by May 2025 Groww Mutual Fund, the AMC arm of the IPO-bound Groww has seen a significant rise in its assets under management (AUM) touching nearly Rs 2,000 crore as of May 2025. It registered a sixfold jump from the Rs 342 crore it managed when it acquired Indiabulls Asset Management Company in May 2023, according to the company's statutory disclosure, according to a press release by the fund house. The sharp rise in AUM signifies Groww Mutual Fund's steady foray into asset management, even as its parent company Groww (Billionbrains Garage Ventures) prepares for an initial public offering (IPO). Also Read | Consistent performers: 10 equity mutual funds deliver over 30% CAGR in 3 and 5-year periods The company had filed confidential papers with SEBI last month and is reportedly aiming for a valuation worth of $7 billion, backed by a recent $200 million round from Iconiq Capital and GIC, the release said. Groww reported a strong growth in earnings in FY25, with profit rising threefold year-on-year to Rs 1,819 crore. Revenues touched Rs 4,056 crore, up 31% YoY, despite industry-wide pressures such as reduced exchange rebates and evolving tax norms for Mutual Fund - operated under Groww, and formerly Indiabulls AMC - offers a limited but focused suite of active and passive funds. With funds spanning across equity, hybrid, debt, and thematic categories, popular schemes include the Groww Nifty EV & New Age Automatic Index fund, Groww Total Market Index Fund, Groww Value Fund, Groww ELSS Tax Saver Fund, Groww Large Cap Fund, Read | Best corporate bond mutual funds to invest in June 2025 The company recently announced the acquisition of wealth management platform Fisdom in a $150 million all-cash deal, signalling its ambition to deepen presence across the personal finance lifecycle - from SIPs and discount stock broking to advisory-led wealth management. (Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) If you have any mutual fund queries, message on ET Mutual Funds on Facebook/Twitter. We will get it answered by our panel of experts. Do share your questions on ETMFqueries@ alongwith your age, risk profile, and twitter handle.
Time of India
20-06-2025
- Business
- Time of India
Qcomm's worker woes; Capillary's IPO moves
Next Qcomm's worker woes; Capillary's IPO moves Want this newsletter delivered to your inbox? Also in the letter: Quick commerce players running out of delivery riders as demand shoots up Tell me more: Recruitment platform Vahan, which works with leading gig economy firms, confirms the pressure. Hiring is getting harder as 'manpower availability is not rising in proportion to demand.' Dark store managers echoed the concern. Several said they need more riders, with daily orders nearing 1,500. Quote, unquote: Ground reality ET spoke to delivery partners in Bengaluru and New Delhi, most of whom said that falling per-order payouts are making the job unsustainable. A Flipkart Minutes rider said promised referral bonuses aren't being honoured, pushing many to switch platforms for better pay. Harsh weather conditions are adding to the strain on operations. Also Read: Loyalty tech firm Capillary Tech files draft IPO papers; eyes Rs 430 crore via fresh issue IPO details: Fresh issue: Rs 430 crore. Rs 430 crore. Offer for sale: 18.3 million shares. 18.3 million shares. Promoter Capillary Technologies Pte, backed by Peak XV Partners and Avataar Venture Partners, will offload 14.2 million shares. JM Financial, IIFL Capital, and Nomura are book-running lead managers. Second attempt: Objectives: Cover its cloud infrastructure costs. Invest in product and platform R&D. Fund inorganic growth through acquisitions. The funds will be deployed between fiscal years 2026 and 2028. Foxconn plans to make iPhone enclosures in India Foxconn India footprint: iPhone assembly unit at Sriperumbudur, Tamil Nadu. New facility in Devanahalli, near Bengaluru. New AirPods assembly unit in Hyderabad. Progress so far: Quote, unquote: Tariff troubles: Applied Materials says Bengaluru chipmaking centre to rake in $2 billion Other Top Stories By Our Reporters Fresh exits at Krutrim: Groww to apply for corporate bond trading licence: AI, automation, geopolitics in focus at TCS AGM: Insurtech firm Renewbuy bags $10 million: Global Picks We Are Reading Happy Friday! Quick commerce platforms are facing challenges in hiring and retaining delivery drivers amid rising competition. This and more in today's ETtech Morning Dispatch.■ Foxconn expands in India■ Krutrim exits, layoffs■ Groww expands offeringsIndia's booming quick commerce sector is grappling with a critical operational challenge: hiring and retaining delivery partners . As demand for rapid deliveries surges, incumbents are scaling up and new players are joining the race. But recruitment has struggled to keep pace with growth.'Bikers are getting more demanding for all of us. It's becoming tough to hire and retain. These aren't good signs. It's reasonably acute, though not unmanageable yet,' said an executive at a quick commerce Reddy, founder, Capillary TechnologiesCustomer engagement and loyalty tech provider Capillary Technologies India has filed its draft red herring prospectus (DRHP) with Sebi for an initial public offering (IPO), joining a growing list of new-age companies eyeing the public company initially filed its DRHP in December 2021, but the proposal did not receive Sebi's nod. ET had first reported in November that Capillary Technologies was reviving its IPO plans and was aiming to file this Technologies will use the proceeds from the fresh issue to:Apple's largest supplier, Foxconn, is setting up a unit in Oragadam, Tamil Nadu, to manufacture iPhone enclosures, as ET first reported on September 25 last year. The move is part of the Taiwanese contract manufacturer's broader efforts to expand and diversify its operations in has commenced at the ESR Industrial Park in Oragadam, close to Foxconn's upcoming display module facility, according to one person aware of the developments."This gives Apple more leverage and also provides Foxconn with ease of integration and boosts value addition," said Neil Shah, vice president, Counterpoint Research. "This improves supply chain effectiveness for Foxconn as well as Apple."Apple is keen to move iPhone production to India to avoid potential US tariffs on Chinese-made devices. However, US President Donald Trump has threatened a 25% duty on devices made overseas. Despite this, Foxconn is pressing ahead with its expansion plans for Rengarajan, head of semiconductor products group, Applied Materials IndiaAmerican chip equipment manufacturer Applied Materials plans to establish a chip manufacturing centre in Bengaluru for $400 million over four years, Suraj Rengarajan, managing director at Applied Materials India, told ET. The company expects the plant to attract investments up to $2 Aggarwal, founder, KrutrimThree senior executives heading engineering and AI product execution at Bhavish Aggarwal's Krutrim have left , as the company laid off over a dozen people from their linguist teams across multiple languages early this week, sources familiar with the matter told Groww is planning to seek Sebi's approval to offer trading in corporate bonds through its mobile application, according to two people in the Consultancy Services (TCS) will focus on four strategic pillars: establishing a large pool of AI agents to work alongside the human workforce, delivering solutions for a human-plus-AI model, investing in AI data centres, and partnerships, said director Keki Mistry during the company's 30th annual general meeting (AGM).Insurance broking startup Renewbuy has secured $10 million (approximately Rs 86 crore) in a funding round from its existing investors, London-based Apis Partners and 360 One (previously IIFL Wealth).■ How much energy does AI use? The people who know aren't saying ( Wired ■ Samsung is desperate to compete on chips. Workers say it comes at a cost. ( Rest of World ■ I tried the future of smart glasses at WWDC. They weren't made by Apple ( CNET
Economic Times
19-06-2025
- Business
- Economic Times
China's rare earth curbs hit India; Groww eyes bonds
China's rare earth export controls are concerning Indian electronic manufacturers. This and more in today's ETtech Top 5. Also in the letter: ■ IT stocks tank■ Explained: Sebi's new Esop norms■ Microsoft vs OpenAI Alarms ring at speaker, wearables, TV makers on Chinese rare earth squeeze China's curbs on rare earth exports have set off alarm bells across the electronics industry, with speaker, wearable, and television manufacturers warning of looming shortages of permanent magnets. Production could grind to a halt unless supplies resume, industry executives and associations said. Driving the news: Of the seven rare earth metals now under export curbs, terbium and dysprosium are essential for making neodymium-iron-boron (NdFeB) magnets. These magnets are widely used in high-performance, portable and compact audio products. They typically account for 5–7% of the bill of materials, and Indian electronics makers remain almost entirely dependent on Chinese imports, according to a white paper by the Electronics Industries Association of India (ELCINA). Current state: China is holding back shipments of these magnets and related products at its ports, demanding end-use declarations before allowing export. This has disrupted operations at speaker assembly units in India and caused delays in deliveries to local TV and audio brands, according to ELCINA. To navigate the bottleneck, speaker manufacturers and importers have sought government help to secure end-use certificates, which Chinese exporters now require to obtain export licences, backed by full traceability documentation. Tell me more: Alternative sourcing from Japan, Vietnam, or even recycled magnets within India comes at a steep cost. ELCINA's price analysis shows these options nearly double input costs, with supply remaining patchy and unreliable. Also Read: G-7 eyes rare earth action plan as China's magnet control raises alarm Groww looks to offer trading in corporate bonds, to apply for Sebi licence (L-R) Harsh Jain, Neeraj Singh, Lalit Keshre and Ishan Bansal, founders, Groww Online stockbroker Groww is planning to expand its mobile app to include trading in corporate bonds. Driving the news: The Bengaluru-based firm plans to apply for an Online Bond Platform Provider (OBPP) licence, sources told us. While it already facilitates the primary sale of newly listed corporate bonds, it aims to offer secondary trading once it secures regulatory approval. Significance: The OBPP licence will allow Groww to compete with platforms such as Wint Wealth and Grip Invest. It also positions the company to tap into India's underpenetrated bond distribution market, where retail participation has been steadily growing. That said, recent concerns around issuers like BluSmart have shaken confidence in the space. Expansion bid: With an initial public offering (IPO) on the horizon, Groww is steadily diversifying beyond stockbroking. It recently entered the credit space after receiving a non-banking finance company (NBFC) licence from the Reserve Bank of India (RBI). The firm has expanded into wealth management with its acquisition of Fisdom and began offering margin trade funding to investors last year. Background: In May, Groww confidentially filed its draft red herring prospectus with Sebi, aiming to raise between $700 million and $1 billion. The company recently raised $250 million in a funding round led by GIC, which valued it at $6.5 billion. For FY25, it reported total revenue of Rs 4,056 crore and a net profit of Rs 1,819 crore. Sponsor ETtech Top 5 & Morning Dispatch! Why it matters: ETtech Top 5 and Morning Dispatch are must-reads for India's tech and business leaders, including startup founders, investors, policy makers, industry insiders and employees. The opportunity: Reach a highly engaged audience of decision-makers. Boost your brand's visibility among the tech-savvy community. Custom sponsorship options to align with your brand's goals. What's next: Interested? Reach out to us at spotlightpartner@ to explore sponsorship opportunities. IT stocks slip up to 3.5% after Fed holds rates, flags persistent inflation Indian IT stocks slipped in Thursday's trade after the US Federal Reserve kept interest rates unchanged, with LTIMindtree and Tech Mahindra leading the losses. What happened: The Fed held its benchmark rate steady at 4.25% to 4.5%, citing ongoing inflation concerns and a cautious economic outlook. This marks the sixth consecutive meeting without a rate change. However, the latest 'dot plot'— a chart that reflects individual policymakers' forecasts—shows policymakers still expect two cuts in 2025. Big losers: Here's how major IT firms reacted: LTIMindtree: Dropped 3.5% intraday, closed 1.6% lower. Tech Mahindra: Fell nearly 3%, closed down about 2%. The Nifty IT index slipped 1.4%. Infosys also slipped, closing down about 0.1%. Mid-sized firms, including Persistent Systems, Coforge, and Mphasis, declined between 1% and 2.6%. Why this matters: The Fed's cautious stance raises uncertainty around US growth and inflation. For Indian IT firms, which derive significant revenue from US clients, this could dampen client spending and contract pipelines. Explained: Sebi's new Esop norms for IPO-bound startup founders, reverse-flipping The Securities and Exchange Board of India (Sebi) has approved several measures to ease doing business, including a long-awaited change for startup founders. What's the news: The market regulator will allow startup founders to retain their employee stock options (Esops) even after their companies go public. Old rules: Founders were classified as 'promoters' at the time of initial public offering (IPO) filings, which barred them from holding or being granted Esops. If they held any, they had to liquidate them. Founders were classified as 'promoters' at the time of initial public offering (IPO) filings, which barred them from holding or being granted Esops. If they held any, they had to liquidate them. New norms: Founders who received Esops at least one year before filing the draft red herring prospectus (DRHP) can now retain them post-listing. Founders who received Esops at least one year before filing the draft red herring prospectus (DRHP) can now retain them post-listing. Flipback: Sebi will now also permit equity shares resulting from the conversion of Compulsorily Convertible Securities (CCS) to be included in an Offer for Sale (OFS), facilitating capital raising through public issues. About time: Sebi has recognised past regulatory grey areas. Founders have long argued that the rules were unfair, often forcing them to exit early and miss out on long-term value creation. Microsoft prepared to abandon high-stakes talks with OpenAI OpenAI CEO Sam Altman with Microsoft CEO Satya Nadella Microsoft is prepared to step back from 'high-stakes' talks with OpenAI over the future of their alliance, the Financial Times reported on Wednesday. Driving the news: The tech giant is reportedly considering pausing negotiations if the parties cannot reach an agreement on key issues, including the size of Microsoft's future stake in OpenAI. For now, Microsoft plans to lean on its existing commercial deal, which gives it access to OpenAI's technology through 2030, the FT report added. Meanwhile: OpenAI executives have discussed accusing Microsoft of anticompetitive behaviour, the Wall Street Journal reported on Monday. The two companies are also renegotiating the terms of Microsoft's investment, including its future equity position in the AI firm. Also Read: Microsoft planning thousands more job cuts aimed at salespeople Updated On Jun 19, 2025, 07:25 PM IST
Time of India
19-06-2025
- Business
- Time of India
China's rare-earth squeeze alarms tech; Groww's new play
China's rare-earth squeeze alarms tech; Groww's new play Want this newsletter delivered to your inbox? Also in the letter: Alarms ring at speaker, wearables, TV makers on Chinese rare-earth squeeze Driving the news: Of the seven rare earth metals now under export curbs, terbium and dysprosium are essential for making neodymium-iron-boron (NdFeB) magnets. These magnets are widely used in high-performance, portable and compact audio products. They typically account for 5–7% of the bill of materials, and Indian electronics makers remain almost entirely dependent on Chinese imports, according to a white paper by the Electronics Industries Association of India (ELCINA). Current state: China is holding back shipments of these magnets and related products at its ports, demanding end-use declarations before allowing export. This has disrupted operations at speaker assembly units in India and caused delays in deliveries to local TV and audio brands, according to ELCINA. To navigate the bottleneck, speaker manufacturers and importers have sought government help to secure end-use certificates, which Chinese exporters now require to obtain export licences, backed by full traceability documentation. Tell me more: Also Read: Groww looks to offer trading in corporate bonds, to apply for Sebi licence Driving the news: Signifiance: The OBPP licence will allow Groww to compete with platforms such as Wint Wealth and Grip Invest. It also positions the company to tap into India's underpenetrated bond distribution market, where retail participation has been steadily growing. That said, recent concerns around issuers like BluSmart have shaken confidence in the space. Expansion bid: With an initial public offering (IPO) on the horizon, Groww is steadily diversifying beyond stockbroking. It recently entered the credit space after receiving a non-banking finance company (NBFC) licence from the Reserve Bank of India (RBI). The firm has expanded into wealth management with its acquisition of Fisdom and began offering margin trade funding to investors last year. Background: Sponsor ETtech Top 5 & Morning Dispatch! Why it matters: The opportunity: Reach a highly engaged audience of decision-makers. Boost your brand's visibility among the tech-savvy community. Custom sponsorship options to align with your brand's goals. What's next: IT stocks slip up to 3.5% after Fed holds rates, flags persistent inflation What happened: Big losers: LTIMindtree: Dropped 3.5% intraday, closed 1.6% lower. Tech Mahindra: Fell nearly 3%, closed down about 2%. The Nifty IT index slipped 1.4%. Infosys also slipped, closing down about 0.1%. Mid-sized firms, including Persistent Systems, Coforge, and Mphasis, declined between 1% and 2.6%. Why this matters: Explained: Sebi's new Esop norms for IPO-bound startup founders, reverse-flipping What's the news: Old rules: Founders were classified as "promoters" at the time of initial public offering (IPO) filings, which barred them from holding or being granted Esops. If they held any, they had to liquidate them. Founders were classified as "promoters" at the time of initial public offering (IPO) filings, which barred them from holding or being granted Esops. If they held any, they had to liquidate them. New norms: Founders who received Esops at least one year before filing the draft red herring prospectus (DRHP) can now retain them post-listing. Founders who received Esops at least one year before filing the draft red herring prospectus (DRHP) can now retain them post-listing. Flipback: Sebi will now also permit equity shares resulting from the conversion of Compulsorily Convertible Securities (CCS) to be included in an Offer for Sale (OFS), facilitating capital raising through public issues. About time: Microsoft prepared to abandon high-stakes talks with OpenAI Driving the news: The tech giant is reportedly considering pausing negotiations if the parties cannot reach an agreement on key issues, including the size of Microsoft's future stake in OpenAI. For now, Microsoft plans to lean on its existing commercial deal, which gives it access to OpenAI's technology through 2030, the FT report added. Meanwhile: Also Read: China's rare earth export controls are concerning Indian electronic manufacturers, who are facing production halts. This and more in today's ETtech Top 5.■ IT stocks tank■ Explained: Sebi's new Esop norms■ Microsoft vs OpenAIChina's curbs on rare earth curbs on rare earth exports have set off alarm bells across the electronics industry, with speaker, wearable, and television manufacturers warning of looming shortages of permanent magnets. Production could grind to a halt unless supplies resume, industry executives and associations sourcing from Japan, Vietnam, or even recycled magnets within India comes at a steep cost. ELCINA's price analysis shows these options nearly double input costs, with supply remaining patchy and unreliable.(L-R) Harsh Jain, Neeraj Singh, Lalit Keshre and Ishan Bansal, founders, GrowwOnline stockbroker Groww is planning to expand its mobile app to include trading in corporate Bengaluru-based firm plans to apply for an Online Bond Platform Provider (OBPP) licence, sources told us. While it already facilitates the primary sale of newly listed corporate bonds, it aims to offer secondary trading once it secures regulatory May, Groww confidentially filed its draft red herring prospectus with Sebi, aiming to raise between $700 million and $1 company recently raised $250 million in a funding round led by GIC , which valued it at $6.5 billion. For FY25, it reported total revenue of Rs 4,056 crore and a net profit of Rs 1,819 Top 5 and Morning Dispatch are must-reads for India's tech and business leaders, including startup founders, investors, policy makers, industry insiders and Reach out to us at spotlightpartner@ to explore sponsorship IT stocks slipped in Thursday's trade after the US Federal Reserve kept interest rates unchanged, with LTIMindtree and Tech Mahindra leading the Fed held its benchmark rate steady at 4.25% to 4.5%, citing ongoing inflation concerns and a cautious economic marks the sixth consecutive meeting without a rate change. However, the latest 'dot plot'— a chart that reflects individual policymakers' forecasts—shows policymakers still expect two cuts in how major IT firms reacted:The Fed's cautious stance raises uncertainty around US growth and inflation. For Indian IT firms, which derive significant revenue from US clients, this could dampen client spending and contract Securities and Exchange Board of India (Sebi) has approved several measures to ease doing business, including a long-awaited change for startup founders The market regulator will allow startup founders to retain their employee stock options (Esops) even after their companies go has recognised past regulatory grey areas. Founders have long argued that the rules were unfair, often forcing them to exit early and miss out on long-term value CEO Sam Altman with Microsoft CEO Satya NadellaMicrosoft is prepared to step back from 'high-stakes' talks with OpenAI over the future of their alliance, the Financial Times reported on executives have discussed accusing Microsoft of anticompetitive behaviour, the Wall Street Journal reported on Monday . The two companies are also renegotiating the terms of Microsoft's investment, including its future equity position in the AI firm.
