IndusInd Holdings completes Invesco AMC deal, becomes MF co-sponsor
The IndusInd International Holdings-Invesco partnership marks the group's entry into India's fast-growing mutual fund business, strengthening distribution and product reach
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The acquisition marks IIHL’s entry into the fast-growing mutual fund and asset management business in India. Invesco, meanwhile, is expected to gain from IIHL’s strong distribution capabilities.
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IndusInd International Holdings (IIHL) has completed the acquisition of a 60 per cent stake in Invesco Asset Management India, making it the joint sponsor of Invesco Mutual Fund (MF) alongside the United States-based Invesco.
The deal, first announced in April 2024, has received all necessary regulatory approvals.
Joint venture to continue under existing management
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The joint venture will continue to operate under the same management, led by Chief Executive Officer Saurabh Nanavati. The company has not announced any plans to change the name of the joint venture.
Invesco MF is the 16th-largest fund house in India, with assets under management (AUM) of around Rs 1.3 trillion. The total assets managed by the company in India (including advisory mandates) are close to Rs 1.5 trillion, IIHL said.
Strategic move into asset management sector
The acquisition marks IIHL’s entry into the fast-growing mutual fund and asset management business in India. Invesco, meanwhile, is expected to gain from IIHL’s strong distribution capabilities.
“Both partners contribute their respective strengths to the venture, with Invesco offering its global investment management expertise and product range, while IIHL will support, through its promoted entity and subsidiaries, a robust distribution network comprising over 11,000 touchpoints across India and serving a customer base of 45 million,” IIHL said in a release.
Ashok Hinduja calls move ‘opportune’ for India’s growth
Ashok Hinduja, Chairman, IIHL, said the deal aligns with the company’s goal of becoming a global financial powerhouse.
“This is the most opportune time, when India, on the back of rising income levels and favourable demographics, offers enormous investment prospects to all Indians, the diaspora included. We will endeavour to reach the last home, last investor transparently and efficiently and live up to investors’ expectation that mutual fund sahi hai,” he said.
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First Published: Nov 03 2025 | 8:04 PM IST