मुथूट फाइनैंस ने खरीदा आईडीबीआई म्युचुअल फंड

Muthoot Finance To Buy IDBI Mutual Funds For Rs 215 Crore

Points to Remember:

  • Major gold finance company Muthoot Finance Ltd (MFIN) said it will acquire IDBI Asset Management Limited and IDBI MF Trustee Company for Rs 215 crore.
  • The acquisition will pave the for Muthoot Finance’s entry into mutual fund asset management space. The transaction is expected to be completed by end of February 2020 subject to receipt of necessary regulatory approvals.
  • Upon closing, both IDBI AMC and IDBI MF Trustee Company will become wholly-owned subsidiary companies of MFIN.
  • Promoted by IDBI Bank in 2010, IDBI Mutual Fund is one of the profit-making AMCs in the mutual fund space with an AUM approx Rs 5,300 crore. IDBI MF runs 22 schemes with robust AUM across products, geography and investors.
  • Upon completion of the transaction, Muthoot Finance will purchase 100 percent equity shares of IDBI Asset Management Limited and IDBI MF Trustee Company Limited held by the sellers.

About Muthoot Finance Ltd (MFIN):

  • Founded: Kerala, India 1939
  • Headquarters: Kochi, India
  • Chairman: M G George Muthoot
  • MD: George Alexander Muthoot
Important Possible questions based on above News:
  1. Which finance company has announced that it will acquire IDBI Asset Management Limited and IDBI MF Trustee Company for Rs 215 crore? Muthoot Finance Ltd (MFIN)
  2. Recently Muthoot Finance Ltd (MFIN) has announced to buy IDBI Asset Management Limited and IDBI MF Trustee Company for ___. Rs 215 crore

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