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IDFC and Shriram to announce their merger today

 2017-07-08 07:21:29.0

IDFC and Shriram to announce their merger today

Tahlka News Bureau

New Delhi: IDFC and Sriram Group are likely to announce their merger on Saturday, which would create a USD 10 billion dollar finance behemoth. The securities and Exchange Board of India (Sebi) has directed stock exchangeable to collate information on price movement bad trading patterns of the four listed companies.


The two groups are ready for an all-stock merger IDFC Bank, IDFC,Shriram City Union Finance and Shriram Transport Finance gained 18.3 per cent, 8.4 per cent, 5.1 per cent and 9.1 per cent, respectively, during the week. In comparison, the BSE Sensex gained 1.42 per cent, and BSE Bankex 0.84 per cent for the same period.

The deal is very likely to be complexed and structured in order to meet with the Reserve BABK OF India's guidelines.
The merger will help IDFC to capture market sh

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