The U.K. based fund house Schroders is looking to buy 30 percent stake.
According to market sources, the U.K. based Schroders Investment Management is looking to buy 30 percent stake in Axis AMC. The deal is reportedly going to close the deal by next week.
The deal size is about Rs. 130 crore. A top official of Axis AMC told Cafemutual, “Axis Mutual Fund is constantly exploring inorganic opportunities including strategic tie-ups. In this context, we meet various entities including local and foreign mutual funds from time to time.”
Schroders wanted to enter the Indian mutual fund industry for last four years and had applied to SEBI for a license in 2008 to launch its mutual fund business.
