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

Monday, 30 April 2012 By Legally India Corporate M&A

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).

Amarchand MangaldasBharucha & Partners

Comments

B&P 30 Apr 2012, 15:23
+1 -0
Go Ponky! Go Sidd!!
lawyer 1 May 2012, 06:12
+1 -0
Just a correction. It should read as "Bharucha & Partners advised Axis Bank that sold 25 per cent of its stake in Axis Asset Management Company to Amarchand Mangaldas Suresh A Shroff & Co-advised Schroders."
anon 3 May 2012, 09:06
+1 -0
In last year, Bharucha has seen a host of long-serving associates leaving the firm including three senior associates (sohrab, dipankar and jay) who had originally moved from amss. Besides the senior partners, who are no doubt brilliant, they don't have any mid-level. Wonder why this mass exodus.
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