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Schroders takes 25% in Axis Asset Mgt with Amarchand, Bharucha

Bharucha & Partners advised Axis Bank that sold 25 per cent of its shares in Axis Asset Management to Amarchand Mangaldas-advised Schroders.

Bharucha partner Alka Bharucha and associate Siddharth Manchanda acted for Axis.

Amarchand Mumbai partner Ashwath Rau and principal associate Aysswarya Murthi advised Schroders, which is the UK’s largest asset management company managing $291bn worth of funds worldwide.

Axis’ mutual fund has assets of over Rs 8,800 crore.

The Financial Express, citing “reports”, estimated that the price paid by Schroders was around Rs 175 crore to Rs 250 crore ($33m to $48m).

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