Moneycontrol has been very closely tracking the ongoing mega-sales process of IDFC Mutual Fund – one of the biggest mutual funds (MF) deals in recent times following the recent sale of L&T Mutual Fund to HSBC for around Rs 3,000 crore.
It has been understood that six months back is when the divestment process had been given the green signal. Now it has all boiled down to a two-horse race between two sets of bidders that have entered the final stage. One is Bandhan Group led consortium, joined by GIC and ChrysCapital and second is Invesco Mutual Fund which is joined by the likes of Warburg Pincus and Kedaara Capital.
It is also understood that, Hinduja Group, which had earlier submitted a binding bid via a promoter entity of IndusInd Bank, are out of the race.
Watch the accompanying video of Moneycontrol's Ashwin Mohan explaining more details.
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