The Essel Group has put its mutual fund business on the block in its drive to monetise nonmedia businesses amid concerns over debt repayment, said three persons with direct knowledge of the development.
Srei Mutual Fund Asset Management, Avendus Capital and Lodha Ventures Holdings are currently in the race to acquire Essel Mutual Fund, which has Assets Under Management (AUM) worth about Rs 1,428 crore, in a deal estimated to be valued at around Rs 100 crore.
