IDFC Mutual Fund (MF) has rebranded itself as Bandhan Mutual Fund: Bandhan Mutual Fund has replaced IDFC Mutual Fund. The name change will take effect on March 13. All the schemes of the fund house will be renamed to replace the word ‘IDFC’ with the word ‘Bandhan’.
March 2023 Current Affairs Quiz
More About The Rebranding of IDFC to Bandhan:
- The rebranding includes a change of the name and the logo. According to the fund house, the name and ownership change will have no bearing on the investment strategy and processes of the schemes.
- The Securities and Exchange Board of India had cleared the Bandhan-linked consortium’s proposed acquisition of IDFC Mutual Fund in December 2022.
- In early 2022, a consortium led by Bandhan Financial Holdings GIC and Chrys Capital agreed to purchase IDFC AMC and IDFC AMC Trustee Company from parent IDFC for Rs 4,500 crore.
- The company, which was earlier a part of the IDFC group, was acquired by a Bandhan Financial Holdings-led consortium in April 2022. The deal was approved by the Securities and Exchange Board of India (Sebi) in November 2022.
