Invesco Secures SEBI Approval for 60% Stake Transfer to IIHL

Invesco Mutual Fund has gained approval from the Securities and Exchange Board of India (SEBI) to transfer a controlling 60% stake to IndusInd International Holdings Ltd (IIHL). This significant development allows IIHL to enhance its investment portfolio in the Indian financial market, with SEBI approving the pending applications related to the change in control of Invesco Asset Management Company (Invesco AMC), Invesco Trustee Company, and the portfolio management services sector.

The approval from SEBI encompasses the appointment of directors to the board of Invesco Trustee Company. This step follows a previous endorsement by the Competition Commission of India (CCI) in August 2024, which cleared IIHL’s acquisition of shares in both Invesco Asset Management (India) Private Ltd and Invesco Trustee Private Ltd.

Details of the Stake Transfer

IIHL plans to hold its investment through a wholly-owned subsidiary, IIHL AMC Holdings Limited, which has been specifically established for this transaction. Incorporated in Mauritius, IIHL operates as a global business licensee and primarily focuses on investment holding across various sectors.

Invesco Trustee and Invesco AMC are recognized entities under SEBI regulations, overseeing mutual fund management and trustee functions, respectively. Invesco AMC is also registered as a portfolio manager under the SEBI (Portfolio Managers) Regulations of 2020.

Earlier this year, IIHL expanded its portfolio by acquiring the distressed Reliance Capital Ltd and its subsidiaries, which operate in sectors such as life insurance, health and general insurance, and asset reconstruction. This acquisition was finalized in May 2025 after receiving approval from the National Company Law Tribunal (NCLT).

Impact on Invesco’s Growth in India

The partnership with IIHL is expected to provide Invesco with the opportunity to extend its reach into additional Indian cities and towns, leveraging IIHL’s strong domestic presence. Invesco Asset Management initiated its operations in India in 2008 by acquiring Lotus India Asset Management Company. Since then, it has expanded significantly, serving over 1.6 million retail investor folios and collaborating with more than 39,000 empanelled distributors as of April 2024.

As of March 31, 2024, Invesco is recognized as the fifth-largest foreign asset manager and the 17th largest domestic asset manager in India, with combined onshore and offshore advisory and assets under management totaling Rs 85,393 crore. The firm maintains a presence in 40 cities across the country, with a significant portion of its assets concentrated in equity and equity-oriented assets.

This strategic move marks a pivotal moment for Invesco as it navigates the complexities of the Indian financial landscape, positioning itself for future growth with the support of IIHL.