Country’s largest brokerage firm by users, Groww, has completed the acquisition of wealth management firm Fisdom after market regulator Securities and Exchange Board of India’s approval last week, according to sources familiar with the matter.

The Bengaluru-based Groww, which filed the revised Initial Public Offering (IPO) documents last month, had reached an agreement to acquire wealth management startup Fisdom for a $150 million all-cash deal in May.

Groww did not respond to Moneycontrol's request for comments.

The 100 percent acquisition is expected to expand Groww’s wealth offerings and is the company’s second large acquisition after it acquired Indiabulls AMC in May 2023.

Unlike the other large brokerage houses, Groww has a strong distribution of mutual funds (including its own) a

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