Singapore-based investment management company Manulife has bought a 49% stake in the asset management arm of Mahindra Finance, marking yet another collaboration between an Indian financial company and a foreign asset management company for operations in India. The transaction has been structured as an investment of $34.9 million, or about Rs 2,000 cr, into the […]
Bank of Baroda said it will buy out its foreign partner Pioneer Investments in its asset management subsidiary to raise its stake in the unit to 100%. It will acquire 51% of Baroda Pioneer Asset Management Company for an undisclosed amount. This is being done due to the acquisition of Pioneer Investments by Amundi, which […]
Reliance Capital said the IPO of its subsidiary Nippon Life Asset Management will open on Oct 25 and close on Oct 27, with a price band of Rs 247 to Rs 252 per share. The offer will raise about 1,500 cr, out of which about Rs 600 cr will go to the company and the […]
Pramerica Asset Managers, the asset management business in India of Pramerica Investment Management, said it had agreed to buy Deutsche Bank’s India asset management business. Separately, Dewan Housing Finance Corporation Ltd also said that it had decided to acquire 50% of the equity share capital of Pramerica Asset Managers Private Limited — the asset management […]
Bangalore-based Ujjivan Financial Services has become the first microfinance institution in India to raise funds directly from mutual funds, and that too one of the largest mutual funds in India. It raised Rs 50 cr from an unnamed mutual fund by placing ‘commercial paper’ (a kind of debt). “This is the first CP issuance by […]
