US-based investment management giant State Street Global Advisors (SSGA) has secured regulatory approval to acquire a strategic stake in Groww Asset Management Company (AMC), marking a significant development in India's rapidly expanding asset management industry. The transaction will grant SSGA a 4.85 percent voting stake and a 22.94 percent economic interest in the fully diluted share capital of Groww AMC upon completion. The deal has already received approvals from the company's board and the Competition Commission of India (CCI).