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IndusInd International Holdings Limited acquires 60 percent of Invesco Asset Management India, forming a joint venture with Invesco.
IIHL, Invesco Launch AMC Joint Venture; IIHL Holds 60% Stake
IndusInd International Holdings Limited (“IIHL”), the promoter of IndusInd Bank, and Invesco Ltd. (“Invesco”) announced today that they have completed the formation of their asset management joint venture (“JV”) following IIHL’s acquisition of a 60% ownership stake in Invesco Asset Management India (“IAMI”) following all regulatory approvals and closing conditions. With Invesco retaining the balance 40% stake, both IIHL and Invesco will hold joint sponsor status under the regulatory framework.
As of September 2025, IAMI is the 16th largest domestic asset manager in India with combined onshore and offshore (through advisory) average assets under management of INR 148,358 crores for the quarter ending September 2025 and a presence in 40 cities across the country.
Both partners contribute their respective strengths to the venture, with Invesco offering its global investment management expertise and product range, while IIHL will support, through its promoted entity and subsidiaries, a robust distribution network comprising over 11,000 touchpoints across India and serving a customer base of 45 million. IIHL will also deploy the reach of several associate entities of its global shareholders that offer synergistic business operations to widen the customer base by another 50 million.
There will be no change in IAMI’s focus on investment excellence and exceptional client service. The JV will continue to operate under the same management led by Saurabh Nanavati, with the same disciplined and research-driven investment philosophy and processes that have been central to its investment offerings since 2008, ensuring strong continuity for investors, distributors, and other stakeholders.
Mr. Ashok Hinduja, Chairman, IIHL, said, “At IIHL, we are very enthused with this JV with Invesco, to augment our para banking portfolio by including Asset Management, and be a global financial (BFSI) powerhouse by 2030. This is the most opportune time, when India, on the back of rising income levels, favourable demographics, offers enormous investment prospects to all Indians, the diaspora included. We will endeavour to reach the last home, last investor transparently and efficiently and live up to investors’ expectation that mutual fund sahi hai”
Motilal Oswal Investment Advisors acted as the exclusive financial advisor to IIHL. Crawford Bayley and AZB acted as legal advisors to IIHL & Invesco, respectively.
Founded in 1993 under the visionary leadership of the late Shri S.P. Hinduja and his three brothers, IIHL is an investment holding Company well-regulated by the Financial Services Commission, Mauritius, under a Global Business License and is governed by the Board of Directors. Its investment portfolio under various Regulatory jurisdictions comprises Banking Services (IndusInd Bank, IIHL Bank & Trust Limited- Bahamas), Capital Market Assets (Afrinex Exchange Limited, Mauritius, with a cumulative listing of $13.5bn of underlying securities). Recently, it acquired the Insurance Businesses (Life, Non-Life, and Health) along with the Securities business of Reliance Capital Ltd to augment its portfolio.
IAMI began operations in India in late 2008 with the acquisition of Lotus India Asset Management Company and has since grown to serve over 2.9. million retail investor folios and over 48,000 empanelled distributors, with over 70% of its AUM in equity and equity-oriented assets. Invesco also operates an enterprise centre in Hyderabad employing more than 1,700 staff across a range of global support functions, including information technology, investment operations, finance, compliance, and human resources.
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More
November 02, 2025, 13:50 IST
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