IDFC share price rises 6%, IDFC First Bank share price falls 6% after board approves merger The board of IDFC First Bank approved its merger with IDFC on July 3 through an amalgamation scheme and ...

The board of directors of IDFC and IDFC Financial Holding approved merger both the entities and announced a share exchange ratio of 155 shares of IDFC FIRST Bank for every 100 shares held in IDFC.

Under the proposed reverse merger scheme, IDFC shareholders will get 155 shares for every 100 shares held in the bank. IDFC Ltd and IDFC First Bank shares have a face value of ₹10 each.

As part of the composite scheme of amalgamation, IDFC FHCL would first merge with IDFC and then IDFC into IDFC First Bank Ltd.

IDFC First Bank said its proposed deal would boost the bank's standalone book value by 4.9% as of March 31, 2023 and aims to increase its balance sheet by 20-25% per year in the near to medium term.

The Boards of IDFC First Bank Ltd and IDFC Limited on Monday approved their merger with each other. The share exchange ratio for the amalgamation of IDFC Limited with IDFC First Bank shall be 155 ...

IDFC has announced the approval of its long-anticipated amalgamation with IDFC First Bank, a move set to take effect from 1 October 2024. In a significant development, IDFC’s Board of Directors ...

Shares of private lender IDFC First Bank fell as much as 6% on Tuesday, while those of IDFC rose 6% to record highs after the companies approved a reverse merger aimed at simplifying their ...

IDFC holds about 40% stake in IDFC First Bank through IDFC Financial Holding. IDFC is completely held by the public. The private-sector lender proposes to complete the merger by this year. This ...

Shares of IDFC First Bank plunged nearly 6 per cent in Tuesday's trade while those of IDFC Limited gained over 6 per cent following the announcement of swap ratio for the proposed merger between ...

IDFC merger: Further IDFC clarified that the company is committed to its ongoing corporate restructuring plan to enhance shareholders' value.

IDFC Ltd and IDFC Financial Holding Company Ltd earlier said they appointed Axis Capital Ltd for the fairness opinion on share exchange ratio for merger with the bank.