Viggo Funding Pte. Ltd., an funding entity linked to Singapore’s sovereign wealth fund GIC, is looking for approval from the Competitors Fee of India (CCI) for the acquisition of a minority shareholding in Billionbrains Storage Ventures Restricted, the mum or dad firm of digital dealer Groww.
In accordance with disclosures filed with the CCI, Viggo Funding proposes to amass a 2.143% stake in Groww. The transaction is pursuant to a deed of adherence and share subscription settlement executed on April 28, 2025.
The funding is known to be half of a bigger funding spherical. This transfer comes as Groww is reportedly getting ready for a possible preliminary public providing.
Groww had beforehand acquired CCI approval earlier in April for a big company restructuring. That approval facilitated the collapse of differential voting rights held by the founders and licensed the issuance of bonus compulsorily convertible choice shares to current fairness shareholders, together with outstanding traders equivalent to Peak XV Companions, Ribbit Capital, Y Combinator, Tiger International, and ICONIQ Strategic Companions.
This restructuring is known to permit sure shareholders to amass further voting rights.
Within the fiscal 12 months ending March 31, 2024 (FY24) the Bengaluru-based unicorn’s consolidated revenues greater than doubled, surging 119% to Rs 3,145 crore from Rs 1,435 crore within the previous fiscal 12 months. Operational profitability additionally noticed an enchancment, reaching Rs 535 crore for FY24, up from Rs 458 crore.
Nonetheless, the corporate reported a web lack of Rs 805 crore for the 12 months, primarily attributed to a one-time tax expense of Rs 1,340 crore associated to its choice to redomicile in India.
Edited by Jyoti Narayan
