IndusInd International Holdings Ltd (IIHL), the promoter entity of IndusInd Bank, and Invesco Ltd have finalized the formation of a joint-venture asset management company in India, following IIHL’s acquisition of a 60% stake in Invesco Asset Management (India) Pvt Ltd (IAMI). Invesco retains the remaining 40%.

Key Highlights

• IIHL acquires 60% in Invesco AMC, forming a joint venture to expand India’s asset management presence.
• JV targets BFSI growth, leveraging IIHL’s 45 million customers and Invesco’s global investment expertise and product suite.

Under the partnership, both IIHL and Invesco will serve as joint sponsors for the AMC. The existing management team, led by Saurabh Nanavati, remains unchanged. IIHL brings its extensive India distribution reach — more than 11,000 touchpoints and a customer base of around 45 million — while Invesco contributes its global investment management expertise and product portfolio.

As of September 2025, IAMI ranked as the 16th-largest asset manager in India, with combined on- and offshore assets under management around ₹1,48,358 crore (for the quarter ended September) and presence in 40 cities.

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IIHL’s Chairman Ashok Hinduja said the JV is a key step toward building a global BFSI powerhouse by 2030, capitalising on India’s favourable demographics and rising income levels.

The move is widely seen as a strategic play to deepen reach into tier-2 and tier-3 markets, expand digital and passive product offerings, and tap India’s growing wealth-management and para-banking opportunities.