IDFC AMC

Markets regulator Sebi has approved the acquisition of IDFC Asset Management Company Limited (IDFC AMC) by a consortium comprising Bandhan Financial Holdings Limited, GIC and ChrysCapital. In a release on Wednesday, IDFC AMC said the proposed deal has been cleared by Sebi. Last month, the Reserve Bank of India's (RBI) approved the deal and the Competition Commission of India (CCI) gave its clearance in August. In April, the board of directors of IDFC Limited and IDFC Financial Holding Company Limited approved the sale of IDFC AMC and IDFC AMC Trustee Company Limited to the consortium. Following the completion of the proposed transition, Bandhan Financial Holdings Limited (BFHL) will own about 60 per cent and GIC and ChrysCapital will own approximately 20 per cent each in IDFC AMC. On completion of the transition, IDFC AMC is proposed to be renamed as Bandhan Asset Management Company Limited and IDFC Mutual Fund (IDFC MF) is proposed to be renamed as Bandhan Mutual Fund, with BFHL

'Conditions are ripe for a private capital expenditure cycle over the next few years'

In April this year, a consortium of Bandhan Bank's parent, private equity firm ChrysCapital and Singapore's sovereign fund GIC had announced the acquisition of IDFC AMC for Rs 4,500 cr

We have raised cash levels across several of our funds, both for funding redemption pressure as well as pouncing on emerging opportunities, Bhaskar said

Volatility will remain because of tightening liquidity, uncertainty on earnings growth, say market experts

The market-share drop is temporary in nature; it is a reflection of the interest rate, equity market, and the overall business environment

The positive commentary on the Union Budget should spur additional foreign flows, notwithstanding higher valuations, says Bhaskar

5-year govt bond yields have risen to over 50 bps since the Budget 2021 has been presented.

In a Q&A, the head-equities, Fund Management at the firm, says companies have proactively cut costs, so there may be a positive surprise on the margin front

It is not yet clear if DSP and BlackRock will enter a non-compete agreement if a split in their joint venture materialises