Muthoot Finance business

Muthoot Finance to buy IDBI Bank’s MF business

The deal to acquire IDBI Asset Management is expected to close this week

 

Gold loan financier Muthoot Finance Ltd is in advanced stages of acquiring IDBI Asset Management Ltd, the mutual fund unit of Life Insurance Corp. of India (LIC)-owned private sector lender IDBI Bank Ltd, three people aware of the development said.

IDBI Asset Management, also referred to as IDBI Mutual Fund, managed 22 schemes during FY19, comprising 12 equity fund schemes, six debt fund schemes, two hybrid fund schemes and one each Gold Fund of Funds and Gold Exchange Traded Funds scheme.

 

Visit our Partner Websites – To view our sites click on given links below

GST panacea.com – A commercial Tax and Goods and Service Tax related website. Here you can find all GST related latest news, notifications, orders, Circulars and many more.

Subscribes our YouTube channel Abhishek raja ram

To view Latest Wealth-maxi Articles Click on given Link

Wealth-maxi Articles

 

References 

Mint
epaper.livemint.com