Hinduja Buys 60% Stakes In Indian Arm Of Invesco Ltd
By: Geetanjali
Hinduja Group’s IndusInd International Holdings (IIHL) a Mauritius based company and the Indian arm of the U.S based Invesco MF (Mutual Funds), have announced their Joint Venture (JV) on Tuesday, April 10, 2024.
As per the JV, IIHL will acquire 60% stakes in the Invesco Asset Management India Limited and the remaining 40% units in the asset management company will be owned by the U.S based Invesco MF.
Invesco entered the Indian Mutual Funds market with 49% stake purchase in the Religare Asset Management and later took over the holding company over a course of five years. With assets worth Rs.85,393 it is India’s 5th largest foreign asset management company and 17th largest MF company in the domestic sphere.
In a press release it said, “Both partners bring their respective strengths to the venture with Invesco’s portfolio of global products and processes, and IIHL facilitating a strong distribution network of 11,000+ pan India touch points and 45 million customer base,”.
“This partnership with Invesco is aligned with our business philosophy & principles: ‘Partnership for Growth’ and ‘Act Local Think Global’ and is another step in the journey of Value Creation for our shareholders.
It was our vision to transform IIHL into a BFSI powerhouse. Our endeavour is to reach ‘last home, last investor’ in a transparent and efficient manner and living up to investors’ expectation that ‘mutual fund sahi hai’ ”Ashok Hinduja, Chairman of IIHL said in his statement.
FAQ
Ques: Who is the founder of Hinduja Group?
Ans: Hinduja Group was founded by Pramanand Hinduja in 1914.
Ques: Who is the CEO of Hinduja Group?
Ans: It is headed by Gopichand Hinduja.
Ques: Who is the CEO OF IIHL (IndusInd International Holdings)?
Ans: Moses Harding is the present Chief Executive Officer of IIHL.
Ques: Hinduja Group listed companies?
Ans: This is the list of Hinduja Group’s listed companies.
1)Ashok Leyland Ltd.
2)GOCL Corporation Ltd.
3)Hinduja Global Solutions Ltd.
4)IndusInd Bank Ltd.
5)Gulf Oil Lubricants India Ltd.
6) NDL Ventures Ltd.
Ques: What is the share price of Hinduja Global Solutions Ltd.?
Ans: As of April 10, 2024 the value of Hinduja Global Solutions Ltd. is 881.30 INR/Share.
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