INSUBCONTINENT EXCLUSIVE:
acquire IDBI Asset Management and IDBI Mutual Fund Trustee Company, paving way for its entry into the mutual fund asset management
space."Upon completion of the transaction, Muthoot Finance will purchase 100 per cent equity shares of IDBI Asset Management and IDBI MF
Trustee for a total consideration of Rs 215 crore," according to an official statement.The transaction is expected to be completed by the
receipt of approval from regulators including the Securities and Exchange Board of India (SEBI)."We are excited to venture into this new
path in the financial services space," said George Alexander Muthoot, Managing Director of Muthoot Finance
"We are equally excited to partner with the strong, experienced and enthusiastic management team at IDBI Mutual Fund as we embark upon the
next level of our journey."Promoted by IDBI Bank in 2010, IDBI Mutual Fund is one of the profit-making asset management companies in the
mutual fund space with assets under management of Rs 5,300 crore
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