M&A

M&A

Bandhan Bank promoter leads race to buy IDFC MF for Rs.4,500-Cr

Economic Times  

A consortium led by Bandhan Financial Holdings, the promoter of Bandhan Bank, is said to be in the pole position to win the bid for IDFC's mutual fund business in a deal valued at about INR 4,500 crore, trumping an Invesco-led grouping. The Bandhan consortium also includes Singapore sovereign wealth fund GIC and local PE firm ChrysCapital. The deal for IDFC Asset Management Co is likely to be sealed at the parent company's board meeting on Wednesday.