Vikas Garg

Invesco Asset Management (India) Pvt Ltd. (Invesco India) is the India-based asset management subsidiary of Invesco Hong Kong Ltd., ultimately held by Invesco Ltd. (NYSE: IVZ) in the US. Established in 2006 as Lotus India Asset Management Co. Pvt. Ltd., the firm was acquired by Religare in 2008 and became Religare Asset Management Co. Pvt Ltd. They changed their name to Religare Invesco Asset Management Co. Pvt Ltd. in 2013 and became Invesco Asset Management (India) Pvt Ltd. in 2016. Invesco India is based in Mumbai and offers mutual funds and portfolio management services to individual investors, corporate and institutions.

L&T Investment Management Ltd. (L&T IM) is an investment management firm headquartered in Mumbai, India. The firm was founded in 1996 as DBS Cholamandalam Asset Management Ltd. They were acquired by L&T Finance in 2010 and renamed L&T Investment Management Ltd. In 2022, HSBC Asset Management (India) Pvt Ltd., a subsidiary of HSBC Holdings Plc (LON: HSBA), acquired the firm. L&T IM manages the L&T Mutual Fund schemes for individual and institutional investors.

FIL Fund Management Pvt Ltd. (FIL FM), established in 2005, is the subsidiary and fund management arm in India of Fidelity International Ltd. (Bermuda), which provides investment products and services to institutional clients and private investors outside of the U.S. on behalf of their Boston-based parent company, FMR LLC. FIL FM manages mutual funds and a fund of funds for institutional clients and private investors.

ICRA Ltd. (Research Firm) (ICRA Research) is the research division of ICRA Ltd., which is ultimately held by Moody’s Corp. (NYSE: MCO). The firm is headquartered in Gurgaon, India. ICRA Research provides research services to their clients.