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DealStreetAsia

Bandhan-led group to buy India asset management company for $600m

GIC and others team up for one of the largest such acquisitions in the country

A Bandhan Bank in Kolkata. Bandhan Financial Holdings is focusing on financial inclusion as it seeks to make its services available to the masses,   © Reuters

NEW DELHI (DealStreetAsia) -- A consortium comprising Indian private lender Bandhan Financial Holdings, local homegrown private equity giant ChrysCapital and Singaporean sovereign wealth fund GIC has entered into a definitive agreement to acquire IDFC Asset Management and IDFC AMC Trustee from IDFC for 45 billion rupees ($600 million).

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