L&T Financial Services has completed the sale of its wholly-owned subsidiary L&T Investment Management and the asset manager of L&T Mutual Fund to HSBC Asset Management (India) on Friday.

“We wish to inform that the said sale transaction has been completed today and the company has received ₹3,484 crore as consideration for the sale and also realised surplus cash balance of ₹764 crore pursuant to the definitive documents,” said L&T Financial Services.

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