Invesco Mutual Fund receives Sebi nod to transfer 60% stake to IIHL

Invesco Mutual Fund has received Sebi approval to transfer a 60% stake to IndusInd International Holdings Ltd (IIHL). This follows CCI approval in August 2024. IIHL will acquire the stake through its subsidiary IIHL AMC Holdings Limited. The deal will benefit Invesco to expand into more Indian cities and towns. Invesco AMC serves over 1.6 million retail investor folios and has over 70% of its assets under management in equity and equity-oriented assets.

Invesco Mutual Fund has received approval from the Securities and Exchange Board of India (Sebi) to transfer a controlling 60% stake to IndusInd International Holdings Ltd (IIHL). This approval follows a similar nod from the Competition Commission of India (CCI) in August 2024 [1, 2, 3].

The transfer will be facilitated through IIHL AMC Holdings Limited, a wholly-owned subsidiary of IIHL. IIHL, a global business (Category 1) licensee company incorporated in Mauritius, is known for its investment holding activities across various sectors. This strategic move is expected to benefit Invesco by enabling it to expand its operations into more Indian cities and towns, leveraging IIHL's strong domestic presence [1, 2, 3].

Invesco Asset Management (India) Private Ltd (Invesco AMC) and Invesco Trustee Private Ltd (Invesco Trustee) are the key entities involved in this transaction. Sebi has approved the change in control for both Invesco AMC and Invesco Trustee Company, as well as the PMS business. Additionally, Sebi has approved the appointment of directors on the board of the Invesco Trustee Company [1, 2, 3].

Invesco AMC, which began its operations in India in 2008 with the acquisition of Lotus India Asset Management Company, has grown significantly. As of April 2025, it serves over 1.6 million retail investor folios and over 39,000 empanelled distributors. The majority of its assets under management, approximately 70%, are in equity and equity-oriented assets. Invesco AMC is the fifth-largest foreign asset manager and the 17th largest domestic asset manager in India, with combined onshore and offshore advisory and assets under management of Rs 85,393 crore as of March 31, 2024 [1, 2, 3].

The acquisition of a 60% stake by IIHL is expected to further bolster Invesco's market position and facilitate its expansion plans. IIHL's recent acquisition of debt-ridden Reliance Capital Ltd and its subsidiaries in May 2025, following the National Company Law Tribunal (NCLT) approval of IIHL's resolution plan, underscores its capability to handle complex transactions and integrate new businesses effectively [1, 2, 3].

References:
[1] https://economictimes.indiatimes.com/mf/mf-news/invesco-mutual-fund-gets-sebi-nod-for-60-pc-stake-transfer-to-iihl/articleshow/123660632.cms
[2] https://money.rediff.com/news/market/invesco-mf-stake-transfer-to-iihl-gets-sebi-nod/33081220250902
[3] https://www.theweek.in/wire-updates/business/2025/09/02/dcm109-biz-iihl-invesco.html