IndusInd International Holdings, the promoter of IndusInd Bank, and Invesco have completed the formation of their asset management joint venture following IIHL’s acquisition of a 60 percent ownership stake in Invesco Asset Management India, following all regulatory approvals and closing conditions.
With Invesco retaining the remaining 40 percent stake, both IIHL and Invesco will retain joint sponsor status under the regulatory framework.
As of September-end, IAMI is the 16th largest domestic asset manager in India, with average assets under management of ₹1.48 lakh crore and presence in 40 cities across the country.
Invesco will offer its global investment management expertise and product range, while IIHL will leverage its distribution network of over 11,000 touchpoints across India, serving a customer base of 45 million.
IIHL will also leverage the reach of several associated entities of its global shareholders offering synergistic business opportunities to expand its customer base by another 50 million, the company said.
The JV will continue to operate under the same management led by Saurabh Nanavati.
Ashok Hinduja, chairman of IIHL, said the joint venture with Invesco will expand the para-banking portfolio by including asset management and be a global financial (BFSI) powerhouse by 2030. This is the most opportune time when India, owing to rising income levels and favorable demographic conditions, offers tremendous investment prospects to all Indians, including the diaspora, he said.
Andrew Lo, Chief Executive Officer, Asia Pacific at Invesco, said the partnership with IIHL will further expand distribution capacity in the domestic market.
Saurabh Nanavati, CEO, Invesco Asset Management (India) said the aim is to strengthen reach and expand distribution, especially in tier-II and -III cities, thereby making high-quality investment solutions available to a broader set of investors across India.
“We also aim to grow our presence and offerings through GIFT City, SIFs, passive products and digital channels,” he said.
Motilal Oswal Investment Advisors acted as the exclusive financial advisor to IIHL. Crawford Bayley and AZB acted as legal advisors to IIHL & Invesco, respectively.
Published on November 2, 2025
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