TVS Venu Group Expands Horizon with Strategic Acquisition of PGIM India

The TVS Venu Group is set to acquire PGIM's India asset management business from Prudential Financial. The deal requires regulatory approval and includes the acquisition of PGIM India Trustees. PGIM, managing over Rs 30,000 crore, offers diverse investment services including mutual funds and portfolio management.

The Chennai-based TVS Venu Group announced its acquisition of PGIM's India asset management business. This strategic move will enable the conglomerate to extend its reach into the financial domain.

With regulatory approval pending, TVS will take over the full stake of PGIM's operations in India, currently controlled by US-based Prudential Financial.

PGIM manages over Rs 30,000 crore in assets, providing a variety of investment options such as mutual funds and portfolio management services, poised to enhance TVS's footprint in the financial sector.

(With inputs from agencies.)