TVS Venu Group acquires PGIM India for $3.3 billion

TVS Venu Group has signed binding agreements to acquire Prudential Financial's complete holding in PGIM India Asset Management. This acquisition, which is subject to regulatory approvals, involves assets under management of over Rs 300 billion ($3.3 billion) as of December. PGIM India offers various investment products including equity and fixed income strategies. The deal reflects strategic movements in India's asset management sector, which could influence market dynamics going forward.