From at least two local bidders, Prudential Financial Inc.’s India asset manager has received proposals. State Street Investment Management-backed Groww Asset Management Ltd and Edelweiss Asset Management have filed offers for PGIM India Asset Management Pvt Ltd, as per the current media reports. After witnessing little significant growth since acquiring the company from Deutsche Bank AG ten years ago, PGIM Inc. is trying to sell its losing asset management division in India. A settlement has not yet been reached; negotiations are still ongoing.Why Global Asset Managers Eyeing for Indian Market?In order to capitalise on India’s ongoing equity growth, global asset managers are investing in the country. Earlier this month, Groww AMC acquired a minority position from State Street Investment Management. Similarly, Sanlam Emerging Markets (Mauritius) Ltd, located in Johannesburg, purchased a stake in Shriram AMC in May, while Westbridge Capital purchased a stake in Edelweiss AMC in August. PGIM’s assets encompass equity, alternatives, real estate, and fixed income. The annual report of PGIM indicates that its after-tax losses in India increased to over 235 million rupees ($2.6 million) in the year ending March 2025.Groww Under ScrutinyCiting concerns about governance and transparency, proxy advice firm Institutional Investor Advice Services (IiAS) has… Read MoreStartupTalky- Business News, Insights and Stories
