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Infrastructure Development Finance Company (IDFC) board on Friday announced that is set to merge IDFC Alternatives Ltd, IDFC Trustee Company Ltd and IDFC Projects Ltd into IDFC Limited. This move is a part of simplifying their corporate structure.
"The Board of Directors ('the Board'} of IDFC Limited at its meeting held today, as part of simplification of corporate structure, have considered and approved the merger IDFC Alternatives Limited, IDFC Trustee Company Limited and IDFC Projects Limited (wholly owned subsidiary companies} into IDFC Limited (Holding Company} subject to regulatory approvals from various authorities, as applicable," said the company in the NSE filing.
The shares of IDFC were trading at Rs.36.30, down per cent on the NSE.
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