HomeBusinessL&T Finance successfully sells its mutual fund division to HSBC for ₹3,484...

L&T Finance successfully sells its mutual fund division to HSBC for ₹3,484 crore.

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  • According to a press announcement from the company, L&T Finance Holdings has successfully sold its mutual fund division to HSBC Asset Management (India) for ₹3,484 crore.
  • Additionally, the company has realised a surplus cash balance in L&T Investment Management of Rs. 764 crore.
  • According to the company’s announcement, the revenues would aid in accelerating its efforts to strengthen its balance sheet and increase its retail presence.

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