M&A

M&A

Prudent Corporate Advisory Services buys MF distributor Indus Capital for Rs.124-Cr

BSE Announcement   Business Line  

Ahmedabad-based wealth management services group Prudent Corporate Advisory Services has acquired the mutual funds distribution business of Pune-based Indus Capital for INR 114 crore with an additional special consideration of INR 10 crore.Through this acquisition, Indus Capital will move its clients to Fundzbazar (a platform owned by Prudent), giving them a wider product basket and more reliable tech platform.Sanjay Sanghvi, founder of Indus Capital, will join Prudent as a strategic advisor, while Gaurav Gupta will continue to lead this vertical as the business head.Indus Capital is in the mutual fund distribution business, with an AUM of INR 2,030 crore.