Groww, Edelweiss eye PGIM India as global investors chase Indian market
PGIM Inc. is looking to sell its Indian asset management arm, which it bought from Deutsche Bank a decade ago but hasn't seen much growth since.
Now, Groww (backed by State Street) and Edelweiss are in the running to take over PGIM India Asset Management.
What's up with PGIM India?
PGIM India manages ₹266 billion (₹26,600 crore / ~$3 billion) across different funds but has been struggling—posting after-tax losses of over ₹235 million last year.
Globally though, PGIM is a giant with $1.5 trillion under management.
Why does this matter?
India's stock market is on fire, attracting big international players.
Recent deals—like State Street investing in Groww and Westbridge in Edelweiss—show how global money is flowing into Indian finance, making this takeover race one to watch if you care about where the future of investing is headed.