IDFC to look for suitors again for its Rs 1.26 trillion MF business

Existing fund houses, MF aspirants could show interest

IDFC has once again set the ball rolling for the sale of its mutual fund (MF) business. The company’s board on Friday decided to rope in investment bankers to find suitors for IDFC MF, which manages assets worth Rs 1.26 trillion and is among the country’s top 10 asset management companies.

“The board of directors…approved to initiate steps to divest its mutual fund business subject to requisite regulatory approvals, as applicable. The boards have authorised respective strategy and investment committees to take necessary steps, including appointment of investment banker, for the same,” said the company in a stock exchange filing.