mumbai groww an investment platform on tuesday said it will buy the mutual funds business of indiabulls housing finance ibhfl one of the leading private mortgage lending firms in the country for rs 175 crore the total consideration for the fund house includes cash and cash equivalent of rs 100 crore a release from the acquirer said groww will also acquire the trustee company of the fund house however ibhfl will continue to run its alternate investment fund aif and portfolio management service pms businesses as of end march 2021 indiabulls mf had average monthly assets worth rs 664 crore amfi data showedaccording to groww ceo cofounder lalit keshre the company would continue to focus on its objective of democratising investing in india it aims to continue to leverage technology to reach new investors and also bring down costs for its fund investors we have experienced the power of technology in enabling the access of financial services to even those who do not live in metros or who are not hnis with the capability to create products we plan to make mutual funds even more accessible keshre said