PGIM India Asset Management draws interest from Groww and Edelweiss

Prudential Financial’s plus absorption concern successful India has received acquisition proposals from astatine slightest 2 home firms, reported Bloomberg citing sources.

Groww Asset Management, backed by State Street Investment Management, and Edelweiss Asset Management person each submitted bids for PGIM India Asset Management, the unnamed sources said.

These individuals noted that discussions are inactive successful advancement and nary statement has been reached.

Earlier this month, Bloomberg reported that PGIM is considering the divestment of its Indian unit, which has reported losses and constricted enlargement since being acquired from Deutsche Bank astir 10 years ago.

That study further indicated that EY has been appointed to counsel connected the imaginable sale.

PGIM India presently manages assets valued astatine astir Rs 266bn ($3bn), but the concern has struggled to execute maturation successful caller times, sources added.

When approached for comment, PGIM declined to respond.

Groww AMC and Edelweiss AMC did not supply comments either.

Asset absorption firms from astir the satellite person been expanding their beingness successful India.

Earlier this month, State Street Investment Management acquired a number involvement successful Groww AMC.

Westbridge Capital took a involvement successful Edelweiss AMC successful August, portion Sanlam Emerging Markets (Mauritius) bought into Shriram AMC successful May.

PGIM operates crossed assorted plus classes including fixed income, equity, alternatives and property.

As per its latest yearly report, after-tax losses for the Indian limb climbed to much than Rs 235m ($2.6m) successful the fiscal twelvemonth ended March 2025.

"PGIM India Asset Management draws involvement from Groww and Edelweiss " was primitively created and published by Private Banker International, a GlobalData owned brand.

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