Competition Commission of India approves merger of IDFC Limited with IDFC First Bank
Banking & Finance
The boards of IDFC First Bank Limited and IDFC Limited approved the merger with each other in July this year. The share exchange ratio for the amalgamation of IDFC Limited with IDFC First Bank will be 155 equity shares of face value Rs 10 of IDFC First Bank for every 100 equity shares of face value Rs 10 of IDFC First Bank. "The merger will simplify the corporate structure of IDFC FHCL, IDFC Limited and IDFC First Bank by consolidating it into a single entity and will help in streamlining the regulatory compliance of the above entities. The merger will help in creating a diversified public entity and will help other large private Like help sector banks, institutional shareholders who have no promoter stake,” IDFC First Bank had said in a stock exchange filing.
____________________________
