IDFC Mutual Fund to be renamed Bandhan Mutual Fund
Markets regulator Securities and Exchange Board of India (SEBI) cleared Bandhan-led consortium's proposed acquisition of IDFC Asset Management Company.
Earlier this year, a consortium of Bandhan Financial Holdings (BFHL), GIC, and ChrysCapital signed an agreement to buy IDFC AMC and IDFC AMC Trustee Company from parent IDFC, for Rs 4,500 crore.
Did you Know
BFHL will own about 60% and GIC and ChrysCapital will hold 20% each in IDFC AMC.