IndusInd Holdings Plans to Raise ₹800 Crore for Invesco MF Acquisition

IndusInd International Holdings Ltd (IIHL) is reportedly looking to raise ₹600-800 crore from global lenders, including Standard Chartered, to finance its acquisition of a 60% stake in Invesco Asset Management India (IAMI). This strategic move aims to position IIHL as a comprehensive BFSI powerhouse. The collaboration with Invesco is seen as timely, considering India’s favorable demographics, growing investor confidence, and increasing prosperity. Invesco will maintain a 40% stake in the joint venture, which is still pending customary regulatory approvals. Saurabh Nanavati will remain as CEO of IAMI. IIHL expects that the combination of Invesco’s global products and processes with IIHL’s extensive distribution network will enhance the joint venture’s prospects.

Source: Economic Times