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Question

IDFC Ltd announced the sale of its mutual fund business to a consortium led by which of the following bank?

A ICICI Bank Correct Answer Incorrect Answer
B SBI Bank Correct Answer Incorrect Answer
C Bank of Maharashtra Correct Answer Incorrect Answer
D Bandhan Bank Correct Answer Incorrect Answer
E None of these Correct Answer Incorrect Answer

Solution

• IDFC Ltd announced the sale of its mutual fund business to a consortium led by Bandhan Financial Holdings, for a consideration of Rs 4,500 crore. • IDFC Limited and a consortium comprising Bandhan Financial Holdings Ltd, (Singapore’s sovereign wealth fund) GIC and (private equity firm) ChrysCapital have entered into a definitive agreement to acquire IDFC Asset Management Company Limited and IDFC AMC Trustee Company Limited from IDFC Limited. • The deal is “for a consideration of Rs 4,500 crore, subject to the receipt of necessary regulatory approvals and customary closing conditions".

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