Housing Development Finance Co. Ltd (HDFC), India’s largest mortgage lender, is set to tap the equity market after a gap of 22 years with the initial public offering (IPO) of its insurance business. After a failed attempt at merging the life insurance company HDFC Standard Life with Max Financial services, Deepak Parekh, chairman of HDFC, confirmed the deal with Max is off the table and the group is looking to list its mutual fund business in the first quarter of the next financial year. In an interview, Parekh also shared his views on growth, the government’s fiscal stimulus package and the new ventures that the group is exploring. Edited excerpts:
6 equity mutual funds offer over 25% CAGR in five years
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