IDFC Announces Sale of Mutual Fund Business to Bandhan-led Consortium For Rs 4,500 Crore
2 years, 8 months ago

IDFC Announces Sale of Mutual Fund Business to Bandhan-led Consortium For Rs 4,500 Crore

News 18  

IDFC Ltd on Wednesday announced the sale of its mutual fund business to a consortium led by Bandhan Financial Holdings, for a consideration of Rs 4,500 crore. “IDFC Limited and a consortium comprising Bandhan Financial Holdings Ltd, GIC and ChrysCapital have entered into a definitive agreement to acquire IDFC Asset Management Company Limited and IDFC AMC Trustee Company Limited from IDFC Limited,” IDFC Ltd said in a statement. We have achieved signing within six months of the Board’s decision to divest, which further demonstrates IDFC board’s commitment to consummate the merger of IDFC Limited and IDFC Financial Holding Company with IDFC First Bank.” He added that the Bandhan consortium with its strong brand and resources will further strengthen the distribution of products improving the overall experience for IDFC AMC’s investors and distributors. Bandhan Financial Holdings Managing Director Karni S Arha said, “The acquisition of IDFC AMC provides us with a scaled-up asset management platform, with a stellar management team and a pan India distribution network.

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History of this topic

IDFC gets CCI nod for merger with IDFC First Bank
1 year, 2 months ago

IDFC gets CCI nod for merger with IDFC First Bank

Live Mint  

The Infrastructure Development Finance Company has received approval from the Competition Commission of India for its merger with IDFC First Bank, a regulatory filing stated on October 17. The merger between the development finance institution and the private lender had received approval from the board of directors of IDFC and IDFC First Bank on July 3. Under the proposed merger, …

IDFC To Merge With Its Banking Arm IDFC Bank In All-Stock Deal, Stock Rises
1 year, 5 months ago

IDFC To Merge With Its Banking Arm IDFC Bank In All-Stock Deal, Stock Rises

ABP News  

Days after the amalgamation of the HDFC Bank and HDFC, IDFC First Bank has announced merger of its parent IDFC Ltd with itself in an all-stock transaction, marking another major deal in the Indian banking space. The share exchange ratio will result in a premium of about 20 per cent on the closing market price of the shares of IDFC …

IDFC shares rise 6%, IDFC First Bank shares fall 6% after board approves merger
1 year, 5 months ago

IDFC shares rise 6%, IDFC First Bank shares fall 6% after board approves merger

Live Mint  

Shares of IDFC rose 6 per cent to hit their fresh 52-week high of ₹115.70 while those of IDFC First Bank declined 6 per cent in morning trade on BSE on Tuesday a day after the board of IDFC First Bank approved its merger with IDFC. IDFC First Bank share price opened flat at ₹81.94 against the previous close of …

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