- 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:
- Competition Commission of India (CCI) in August 2022
- Reserve Bank of India (RBI) in November 2022
- 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.
