Avendus Capital, controlled by US private equity giant KKR, emerged as the surprise frontrunner to acquire the mutual fund business of IDFCNSE -2.07 %. A flurry of fund flows into broader markets and increased public interest in mutual funds have sparked the interest of global investors in India’s Rs 23 lakh crore asset management industry.
Avendus and KKR have made an offer of Rs 3,000-4,000 crore and are in exclusive negotiations with IDFC, several people with direct knowledge of the ..
