Under the agreement, IIHL has acquired a 60% stake in Invesco Asset Management India (IAMI), while Invesco will retain the remaining 40%. With all regulatory approvals and closing conditions having been completed, both partners will now act as joint sponsors of the venture, which will continue to operate under the existing Invesco brand and management structure.
The deal positions IIHL, part of the Hinduja Group, to expand beyond banking and deepen its presence in the Indian financial services ecosystem. It also allows Invesco to strengthen its domestic position by leveraging IIHL’s extensive local distribution network.
As of September 2025, Invesco Asset Management India is the 16th largest asset manager in the country, with total average assets under management of Rs 1.48 lakh crore for the quarter ended September 2025, across onshore and offshore advisory businesses. The company currently operates in 40 Indian cities and caters to retail and institutional investors.
The partnership brings together Invesco’s global investment and product expertise with IIHL’s distribution scale and local market reach. Through its promoted entities and subsidiaries, IIHL will contribute to a distribution network that includes more than 11,000 touchpoints and provides access to more than 45 million customers. The company said it also plans to leverage its affiliates globally to expand that reach to an additional 50 million potential investors.
Despite the change in ownership, IAMI’s existing management and investment approach remains unchanged. The company will continue to be led by CEO Saurabh Nanavati, maintaining its long-standing research-based investment philosophy and disciplined processes. Commenting on the completion of the transaction, Ashok Hinduja, Chairman of IIHL, said the partnership is in line with the group’s broader ambition to become a diversified financial powerhouse by the end of the decade. powerhouse by 2030,” said Hinduja.
“This is the most opportune time as India’s rising income levels and favorable demography offer tremendous investment potential. We will strive to reach out to the last investor, transparently and efficiently, and live up to the belief that – investment fund is correct”, he added.
Andrew Lo, CEO Asia Pacific at Invesco, said the partnership will help accelerate the company’s next phase of growth in India.
“Our India business has experienced solid growth over the past nine years. We now look forward to working with IIHL to further expand our domestic distribution capabilities. Our focus will continue to be on delivering leading investment offering and service to Indian clients, building on our global and local investment strengths,” he said.
The transaction was advised exclusively by Motilal Oswal Investment Advisors, with Crawford Bayley & Co. and AZB & Partners acted as legal advisors to IIHL and Invesco, respectively.
The partnership comes amid record growth in the Indian mutual fund industry, with retail participation in smaller cities rapidly increasing.
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