 "Sebi gives go-ahead to HSBC AMC's acquisition of L&T Investment Managers")
The Securities and Exchange Board of India (Sebi) has given its go-ahead to HSBC AMC's acquisition of L&T Investment Managers.
The $425-million deal was first announced in December 2021 and received Competition Commission of India’s (CCI) approval in March 2022. HSBC AMC said the mutual fund (MF) schemes currently operated by L&T MF will either be transferred to HSBC MF or merged with similar funds being operated by HSBC MF.
Going by the second quarter assets under management (AUM) of both fund houses, the merger will make HSBC MF the 14th largest fund house in India by AUM. The combined AUM of two fund houses stood at Rs 85,000 crore in the previous quarter.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%