India: Bandhan, ChrysCap & GIC team up to buy out IDFC AMC in $600m deal

Photo: Aniruddha Chowdhury/Mint

A consortium comprising Indian private sector lender Bandhan Financial Holdings, local homegrown private equity giant ChrysCapital and Singapore’s sovereign wealth fund GIC has entered into a definitive agreement to acquire IDFC Asset Management Company and IDFC AMC Trustee from IDFC, for Rs 4,500 crore ($600 million).

This could mark one of the largest transactions in the Indian asset management industry – it is currently awaiting regulatory approvals from relevant Indian authorities.

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