India, Aug. 31 -- Global asset manager State Street Investment Management has completed its Rs.580 Cr strategic investment in Groww's mutual fund arm Groww AMC after receiving all the necessary regulatory approvals.

The transaction gives State Street a 23% economic interest and 4.85% voting rights in Groww AMC. The two companies first announced the deal in January this year.

The difference between economic interest and voting rights means State Street is entitled to the financial benefits associated with a 23% holding but has a much smaller say in shareholder voting. At the time of the announcement, Groww had said State Street's voting rights would be capped at 4.99%.

Of the total investment, Rs.381 Cr was earmarked for the purchase of...