Groww buys Indiabulls MF - for a 100 cr. in cash+75 cr. in I-Don't-Know-What. This is getting really interesting!
This is likely to take time, because SEBI will go through similar process to approve a buyer as it will for a sponsor of a mutual fund. It's however a good thing. We need to get new faces. (Disclosure: Capitalmind has applied too)
Note: These figures quoted like 27% of AUM etc. are pure bullshit. Indiabulls is just about getting its money back. It has invested Rs. 170 cr. in the AMC.
Of that 170 cr. invested in the AMC: Where is it? Around 100 cr. is invested in the schemes of Indiabulls MF itself.
20 cr. is in Indiabulls' Real estate AIFs, and 48 cr. in Indiabulls Consumer Finance bonds. (As of March 2020)
20 cr. is in Indiabulls' Real estate AIFs, and 48 cr. in Indiabulls Consumer Finance bonds. (As of March 2020)
If this is still the case, Groww is probably paying the cash upfront for what is invested in the schemes. The rest is probably about the bonds/AIF being transferred back to Indiabulls Housing (not sure, but that's how I'd do this)
In effect the AMC has seen AUM fall from 1500+ cr. last March to 660 cr. in March 2021. It's probably a relief for Indiabulls housing to get back what's invested.
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