Who are the final bidders for IDFC Mutual Fund?
Answer
Answer
Answer
After 6 months of bidding, 2 consortiums have emerged as likely bidders for IDFC Mutual Fund. One consortium led by Bandhan Bank will include GIC and Chrysalis Capital. The other consortium is led by Invesco MF will include Warburg Pincus and Kedaara Capital. The valuation could be in the vicinity of Rs.4,100 crore since 65% of the AUM is in non-equity funds. That normally dampens AMC valuations. It is one more step to MF consolidation.