IndusInd International Holdings Limited (IIHL), the promoter of IndusInd Bank, and global investment firm Invesco Ltd. have completed the formation of their asset management joint venture in India.
IIHL has acquired a 60% stake in Invesco Asset Management India (IAMI) after receiving all regulatory approvals, while Invesco will retain the remaining 40%. Both companies will act as joint sponsors under the regulatory framework.
As of September 2025, IAMI is the 16th largest asset manager in India, with average assets under management of ₹1.48 lakh crore and operations in 40 cities. The company will continue to be led by CEO Saurabh Nanavati, maintaining its current investment philosophy and management structure.
According to IIHL Chairman Ashok Hinduja, the partnership will help the group expand its presence in asset management and strengthen its financial services portfolio. Andrew Lo, CEO, Asia Pacific at Invesco, said the collaboration will enhance distribution capabilities and investment offerings in India.
Saurabh Nanavati, CEO of IAMI, said the joint venture combines Invesco’s global expertise with IIHL’s local reach, aiming to expand in Tier 2 and Tier 3 markets and grow through new products and digital channels.
Motilal Oswal Investment Advisors acted as financial advisor to IIHL, while Crawford Bayley and AZB & Partners were legal advisors to IIHL and Invesco, respectively.
