Groww, Edelweiss Bid for Prudential's India Asset Management Unit

• Prudential Financial Inc.'s India asset manager, PGIM India Asset Management Pvt Ltd., has received bids from at least two local firms.
• Groww Asset Management Ltd. (backed by State Street Investment Management) and Edelweiss Asset Management have placed offers.
• PGIM Inc. aims to sell its loss-making India unit, which has not seen significant expansion since its acquisition from Deutsche Bank AG a decade ago.
• PGIM India reported after-tax losses exceeding 235 million rupees ($2.6 million) in the year ending March 2025.
• Global asset managers are increasingly investing in India's booming equity market, with recent stakes acquired in Groww AMC, Edelweiss AMC, and Shriram AMC.

Why It Matters: Groww and Edelweiss are bidding for PGIM India, as global firms eye India's growing asset management sector.