IDFC has once again set the ball rolling for the sale of its mutual fund (MF) business.
The company’s board on Friday decided to rope in investment bankers to find suitors for IDFC MF, which manages assets worth Rs 1.26 trillion and is among the country’s top 10 asset management companies. “The board of directors…approved to initiate steps to divest its mutual fund business subject to requisite regulatory approvals, as applicable. The boards have authorised respective strategy and investment committees to take necessary steps, including appointment of ...