Hotline: 1800 102 2007
Hotline: 1800 102 2007
May, 09 2018

BlackRock, Reliance Nippon among top bidders for IDFC AMC

The Mint report said that the potential buyers are likely to offer Rs 2,000-2,500 crore, while the company’s promoter, IDFC Financial, is seeking a valuation of Rs 4,000 crore.

BlackRock, Reliance Nippon among top bidders for IDFC AMC

Global asset manager BlackRock Inc. and Reliance Nippon Life Asset Management Ltd have emerged as the top bidders for IDFC Asset Management Co. Ltd in the first round, a financial daily reported.

A report from financial daily said that the potential buyers are likely to offer Rs 2,000-2,500 crore, while the company’s promoter, IDFC Financial, is seeking a valuation of Rs 4,000 crore.

The lower valuation offered by the bidders could be due to the company’s declining profits and its failure to retain top executives, the report added.

BlackRock had Monday confirmed to sell a 40% stake in joint venture DSP BlackRock Investment Managers Pvt. Ltd to partner DSP Group. DSP BlackRock Investment Managers is the asset management company behind DSP BlackRock Mutual Fund.

In March 2017, IDFC Financial Holding Company Ltd, a subsidiary of IDFC Ltd, had agreed to buy back a 25% stake in IDFC AMC from Paris-based Natixis Global Asset Management for Rs 244.24 crore.

Established in 2000, IDFC AMC is among the top 15 mutual fund firms in India.

sharebtn
Comment
user
email
mobile
address
star
Related opportunities
  • About Us:  The Dewan School, true to its Motto, has grown..
    Locations looking for expansion Uttar pradesh
    Establishment year 2010
    Franchising Launch Date 2019
    Investment size Rs. 2lac - 5lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Meerut Uttar pradesh
  • Bricks & Cement & Sand Supplies
    About Us: Ambuja Cements Ltd, a part of the global conglomerate..
    Locations looking for expansion Maharashtra
    Establishment year 1985
    Franchising Launch Date 1985
    Investment size
    Space required 5000
    Franchise Outlets -NA-
    Franchise Type -NA-
    Headquater Mumbai Maharashtra
  • About Us: Delhi Paramedical & Management Institute, popularly known as DPMI..
    Locations looking for expansion Delhi
    Establishment year 1996
    Franchising Launch Date 2014
    Investment size Rs. 5lac - 10lac
    Space required 2000 - 3500 Sq.ft
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Delhi Delhi
  • Hospitals
    About Us: Within a short but dynamic span of 8 years,..
    Locations looking for expansion Haryana
    Establishment year 2016
    Franchising Launch Date 2019
    Investment size Rs. 30lac - 50lac
    Space required 1600
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Faridabad Haryana
Insta-Subscribe to
Entrepreneur
Magazine
sme-80x109
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
email
mobile
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities