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IDFC is planning to sell its mutual fund business

IDFC Asset Management Company (IDFC AMC) Ltd, the IDFC group’s mutual fund division, has chosen to be sold.

As of June 2021, IDFC AMC had Rs 1,26,070 crore in assets under management.

“The board of directors of IDFC Ltd and IDFC Financial Holding Company Ltd (IDFC FHCL) considered and approved to initiate steps to divest its mutual fund business subject to requisite regulatory approvals, as applicable,” IDFC said in a stock exchange filing. “The boards have authorised respective strategy and investment committees to take necessary steps, including the appointment of an investment banker for the same,” it said.

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