There are unconfirmed reports that Lotus AMC may be in the process of being sold off. The foreign-owned AMC, which is a JV between Sabre Capital Holdings and Fullerton Fund Management, is said to be in the process of being acquired by Religare-AEGON.
Religare-AEGON, a JV between the erstwhile Ranbaxy promoters and Dutch financial group AEGON, has SEBI approval to enter the funds business.
There's no official confirmation from either Lotus or Religare at this point.
More to follow...