India Business News: Hinduja Group acquires majority stake in Invesco's India mutual fund unit amid Jio Financial Services-BlackRock JV's market disruption. Court approves
Invesco will retain a 40% stake in the fund house, while both IIHL and Invesco will have sponsor status. The size of the deal has not been disclosed. IIHL is the promoter entity of IndusInd Bank.
Hinduja Group enters MF space as IIHL picks up 60% in Invesco AMC udaipurkiran.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from udaipurkiran.com Daily Mail and Mail on Sunday newspapers.
IIHL to partner with Invesco and acquire 60 pc stake in IAMI uniindia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from uniindia.com Daily Mail and Mail on Sunday newspapers.
The equity purchase has prepared the door for Hinduja Group's entry into the rapidly expanding mutual fund business, transforming IndusInd International Holdings into a full-fledged financial services company.