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Idfc Limited - Expiry Of The Understanding Entered Into With The Chatterjee Group In Relation To IDFC Securities Limited

| Updated on July 26, 2019 Published on July 26, 2019

Dear Sirs/Madam,

Please refer to our letter dated February 09, 2019 on the captioned subject (copy attached)

IDFC Financial Holding Company Limited (IFHCL) had entered into an agreement with The Chatterjee Group [TCG] for selling the entire equity stake held in IDFC Securities Limited.

This is to inform you that the agreement entered into between IFHCL and TCG expired by the efflux of time on June 30, 2019. Since then, the parties have been in talks to consider a suitable extension, however the same did not fructify and accordingly the Boards of IDFC Limited and IFHCL have decided on July 25, 2019 that they will no longer be proceeding with TCG as originally envisaged.

However, IDFC will continue to explore other options / opportunities to suitably divest its securities business.

Kindly take the aforesaid on record.

Thanking you,

Pdf Link: Idfc Limited - Expiry Of The Understanding Entered Into With The Chatterjee Group In Relation To IDFC Securities Limited

Source : BSE - www.bseindia.com

Published on July 26, 2019
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