Three suitors are vying for IDFC MF – Mint – DC Initiative on Racial Equity
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MUMBAI : Vanguard Group Inc., besides local asset managers Nippon Life India Asset Management Ltd and Axis Asset Management Co. Ltd, are contenders to acquire IDFC Ltd’s mutual fund business in a deal that could be worth 7,000-10,000 crore, three people directly aware of the discussions said.

“Vanguard is a top contender. About 15 entities, including foreign asset management companies, financial services firms, and private equity funds, have shown interest in buying IDFC Mutual Fund. But the bidding process is still on. Once the bids are opened, IDFC will examine and shortlist the buyer,” one of the three people said.

Vanguard is one of the world’s top money managers, with $8.5 trillion in global assets as of December end. The group, founded by John Bogle, is a pioneer in low-cost investing through index funds.

Value perception

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Value perception

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