Singapore’s GIC gets CCI approval to buy stake in IPO-bound Groww

Viggo Investment, a subsidiary of Singapore’s sovereign fund GIC, has received approval of Competition Commission of India (CCI) to acquire stake in the Billionbrains Garage Ventures, the IPO-bound owner of stockbroker Groww.

GIC had approached the competition regulator in May, seeking approval for acquiring a 2.14% stake in the Bengaluru-based fintech startup. The investment is part of a larger funding round estimated at $250-300 million.