M&A

M&A

BSE to buy S&P's 50% stake in index joint venture AIPL for Rs 30-Cr

Business Standard  

Domestic bourse BSE is to acquire the 50% stake held by equal joint venture partner S&P Dow Jones (SPDJ) Indices in index provider Asia Index (AIPL) for INR 30 crore.Set up in 2013, AIPL is responsible for compiling and maintaining the widely followed Sensex, Bankex, and other indices. Passive funds with assets of nearly INR 2 trillion are benchmarked with indices provided by AIPL.While the index business caters to passive funds, exchange-traded funds, and other mutual fund products, AIPL also provides outsourced services to S&P Dow Jones Indices and its affiliates. AIPL had a net worth of INR 57.82 crore as of March 31.