PGIM India Asset Management draws interest from Groww and Edelweiss

Prudential Financial’s asset management business in India has received acquisition proposals from at least two domestic firms, reported Bloomberg citing sources. Groww Asset Management, backed by State Street Investment Management, and Edelweiss Asset Management have each submitted bids for PGIM India Asset Management, the unnamed sources said. These individuals noted that discussions are still in progress and no agreement has been reached. Earlier this month, Bloomberg reported that PGIM is considerin ...