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L&T Finance Ltd, a subsidiary of L&T Finance Holdings, has acquired mutual fund companies FIL Fund Management Pvt Ltd (Fidelity AMC) and FIL Trustee Company Pvt Ltd, according to a press release from the company.
This acquisition provides L&T Finance Ltd the scale, products and access to retail customers to grow profitably.
“With this acquisition we are one step closer to achieving our vision of being among the top players in the Indian mutual fund industry,” said Mr Y. M. Deosthalee, Chairman and Managing Director, L&T Finance Holdings Ltd.
The stock closed at Rs 49.80, up 4.62 per cent from its previous close on the BSE.
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