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Photo: Pradeep Gaur/Mint May 11, 2021 Nextbillion Technology Pvt. Ltd, the parent which operates wealth management platform, Groww, on Tuesday said it has entered into a definitive agreement with Indiabulls Housing Finance Ltd (IBHFL) to acquire the mutual fund business of its subsidiaries Indiabulls Asset Management Company Limited (IAMCL) and Indiabulls Trustee Company Limited, for ₹175 crore ($24 million). The deal includes a cash equivalent of ₹100 crore ($13.6 million), to be invested by Groww, and is subject to regulatory approvals by the Securities and Exchange Board of India (Sebi). The transaction is expected to be concluded by 30 June 2022, IBHFL stated as a part of its filings to BSE Ltd.

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