Home / Mutual Funds / News /  IDFC AMC to be renamed as Bandhan Mutual Fund as regulators approve change in ownership

IDFC Asset Management Company Limited (AMC), one of the top 10 AMCs in the country, has received regulatory clearances from regulators for its proposed change in ownership. Securities market regulator SEBI granted the necessary no objection for IDFC AMC’s acquisition by a consortium comprising Bandhan Financial Holdings Limited (BFHL), GIC (GIC), and ChrysCapital (CC). 

Last month, The Reserve Bank of India (RBI) granted its approval, whereas the Competition Commission of India (CCI) had already approved the deal in August 2022. In April 2022, the Board of Directors of IDFC Limited and IDFC Financial Holding Company Limited approved the sale of IDFC AMC and IDFC AMC Trustee Company Limited to the consortium. 

Consequent to the completion of the proposed transition, BFHL will own approximately 60% and GIC & CC will own approximately 20% each in IDFC AMC. On completion of the transition, IDFC AMC is proposed to be renamed as Bandhan Asset Management Company Limited and IDFC Mutual Fund (MF) is proposed to be renamed as Bandhan Mutual Fund, with BFHL becoming the Sponsor of the Mutual Fund. 

Consequently, each scheme of IDFC MF will be renamed to replace the word ‘IDFC’ with the word ‘Bandhan’. The consortium of incoming shareholders envisages the continuity of the current management team and investment processes at IDFC AMC. As a result, the unitholders of IDFC MF would continue to benefit from the same high‐quality investment approach and focus that IDFC AMC is reputed for.

Established in 2000, IDFC AMC AMC offers a range of prudently constructed investment products – across equities, fixed income, and hybrid.

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