Fair trade regulator CCI said it has approved LIC Mutual Fund's acquisition of IDBI Mutual Fund. Life Insurance Corporation of India (LIC) is the sponsor of LIC Mutual Fund (LIC MF) and the parent entity of LIC AMC and LIC TC.
The proposed combination involves LIC Mutual Fund Asset Management Ltd (LIC AMC) acquiring the rights to manage and administer the schemes of IDBI Mutual Fund (IDBI MF) from IDBI Asset Management Ltd (IDBI AMC), according to an official release.
