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IDFC AMC Renamed Bandhan AMC

Published on December 05, 2022
Current Context: The Securities and Exchange Board of India (SEBI) approved the acquisition of IDFC Asset Management Company (AMC) by the Bandhan-led consortium.
IDFC AMC Renamed Bandhan AMC
  • Bandhan Financial Holdings Ltd (BFHL), General Insurance Company of India (GIC), and ChrysCapital formed a consortium to acquire IDFC AMC and IDFC AMC Trustee Company from IDFC for INR 4,500 Cr.
  • After the acquisition, BFHL will own 60% of IDFC AMC, while GIC and ChrysCapital will own 20% each.
  • The deal was approved by:
  1. Competition Commission of India (CCI) in August 2022
  2. Reserve Bank of India (RBI) in November 2022
  3. Securities and Exchange Board of India (SEBI) on 30th November 2022
  • After the acquisition, IDFC AMC will be renamed Bandhan AMC and IDFC Mutual Fund will be called Bandhan Mutual Fund.
  • Bandhan Financial Holdings Ltd was established in 2014 with its headquarters in Kolkata.

Question:

Q.1 Which of the following company recently acquired IDFC Asset Management Company (AMC)?
a. Saptagiri Grameena Bank
b. Bandhan Financial Holdings Ltd
c. Tamilnad Mercantile Bank Ltd.
d. Dhanlaxmi Bank Ltd.
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