CCI approves acquisition of shares of Billionbrains Garage Ventures Limited by Viggo Investment Pte. Ltd.
CCI approves acquisition of shares of Billionbrains Garage Ventures Limited by Viggo Investment Pte. Ltd.
The Competition Commission of India has approved the proposed acquisition of shares of Billionbrains Garage Ventures Limited by Viggo Investment Pte. Ltd.
The proposed combination relates to the acquisition of 2.143% shareholding in Billionbrains Garage Ventures Limited (Groww) by Viggo Investment Pte. Ltd. (GIC Investor) pursuant to the execution of, inter alia, a Deed of Adherence and Share Subscription Agreement dated 28th April 2025.
GIC Investor is an investment holding vehicle and is a wholly owned subsidiary of Enterprise Holding Pte. Ltd., which, in turn, is a wholly owned subsidiary of GIC (Ventures) Private Limited.
Groww is a company incorporated in India, which through its affiliates operates an online trading platform and mobile application called “Groww”, which allows investors to invest in stocks and mutual funds and other financial instruments. It is also engaged in the business of, inter alia; (a) software designing, customization, testing and benchmarking, designing and development of computer software and solutions, and providing, building, and organizing of software tools; (b) marketing and innovation of licensed software; and (c) providing management and consultancy services to its group companies.
Detailed order of the Commission will follow.