Gold loan financier Muthoot Finance Ltd is in advanced stages of acquiring IDBI Asset Management Ltd, the mutual fund unit of (LIC)-owned private sector lender, three people aware of the development said.
“The deal is expected to close this week. Initially, the binding offers had come in from and Vikas Khemani’s Carnelian Capital Advisors Llp," said one of the three persons cited above, all of whom spoke under condition of anonymity.
