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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 per cent ownership stake in Invesco Asset Management India following all regulatory approvals and closing conditions. With Invesco retaining the balance 40 per cent stake, both IIHL and Invesco will hold 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 a presence in 40 cities across the country. Invesco will offer its global investment management expertise and product range, while IIHL will tap into its distribution network of over 11,000 touchpoints across India and serve a customer base of 45 million. IIHL will also deploy the reach of several associate entities of its global shareholders that offer synergistic business operations to widen the customer base by another 50 million, it said. The JV will continue to operate under the same management led by Saurabh Nanavati. Ashok Hinduja, Chairman, IIHL, said that the joint venture with Invesco will augment 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, on the back of rising income levels, favourable demographics, offers enormous investment prospects to all Indians, the diaspora included, he said. Andrew Lo, Chief Executive Officer, Asia Pacific at Invesco said the partnership with IIHL will further expand distribution capability 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 towns, thereby making quality investment solutions available to a wider set of investors across India. “We also aim to increase 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
