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Global financial services firm Goldman Sachs on Thursday bought more than 1.13 crore shares of Billionbrains Garage Ventures, the parent company of Groww, from venture capital firm Friale for Rs 210 crore through an open market transaction. Goldman Sachs, through its affiliate Goldman Sachs Bank Europe SE, purchased 1,13,43,750 equity shares, representing a 0.18 per cent stake in the Bengaluru-based trading platform, according to block deal data available on the BSE. The shares were picked up at an average price of Rs 185.50 apiece, taking the deal value to Rs 210.43 crore. Meanwhile, Friale offloaded the same number of shares, as per the data. Shares of Groww rose 0.64 per cent to close at Rs 190.05 apiece on the BSE. On Monday, markets regulator Sebi approved US-based State Street Global Advisors' (SSGA) proposed stake acquisition in Groww Asset Management (Groww AMC), a wholly-owned subsidiary of Billionbrains Garage Ventures. Following the proposed transaction, SSGA will acqu

• Business Standard
• 2 hours ago

The architecture employs over 100 AI ranking models trained on 400 trillion input signals, executing 6 trillion daily inferences and reaching 100 million inferences per second during peak traffic

• Business Line
• 4 hours 2 minutes ago

Edtech firm PhysicsWallah on Thursday said it plans to exit from the business of direct financing for students and instead partner with NBFCs for education loans. The move comes after a recent announcement wherein the company said it will invest Rs 120 crore through an equity-infusion in its fully-owned subsidiary FinZ Finance Private Limited. "Physicswallah Limited wishes to inform the exchanges that it is restructuring its lending strategy and has tied up with multiple leading regulated third-party NBFCs to enable student lending needs. This decision reverses the company's earlier approach and is intended to materially reduce balance sheet and credit related risks for the company," the company said. PW said strategic direction for FinZ Finance will be decided in the near future subject to the board and other regulatory approvals. "We received feedback from our partners that our core strength lies in building communities and our online business. Our lending business is best left t

• Business Standard
• 9 hours 11 minutes ago