DSP group plans IPO to monetise stake in AMC, may rope in new partner

DSP may look to offload 15-20 per cent stake through the IPO and sell another 25-35 per cent stake to its new partner

The DSP Group, among the oldest financial services firms in India, may be looking to list its asset management company (AMC) on the bourses and subsequently rope in a foreign strategic partner, said people in the know.

DSP BlackRock is one of the top 10 fund houses in the country and recently announced the exit of its joint venture partner BlackRock in the AMC. Under an agreement announced in May, the DSP Group will buy the 40 per cent stake held by BlackRock, subject to regulatory approvals.

“The management has informed the board they may want to take the AMC