Sebi approves IIHL's acquisition of PMS business unit of Invesco AMC

The Securities and Exchange Board of India (SEBI) has approved Indian International Holdings Ltd. (IIHL) acquisition of the portfolio management services (PMS) business unit of Invesco Asset Management. This approval marks a significant step in the consolidation of asset management businesses in India. The acquisition is expected to enhance IIHL’s market position and expand its service offerings in the asset management sector. The move aligns with the broader trend of consolidation in the financial services industry.