IDFC Ltd

Canara Bank, SBI, IDFC First Bank, IDFC, Tata Steel, RVNL, Lupin, Bajaj Hindusthan, BHEL, DIC India, Ganesh Housing, Vascon Engineers, Esab India, WS Industries, RPP Infra

The merger will give IDFC First bank access to nearly ₹4,000 crore of capital, a bulk of which is likely to come from the sale of IDFC’s mutual fund business to Bandhan Bank

The capital infusion will take IDFC’s shareholding in the bank to 40 per cent

IDFC Asset Management to submit a compliance report to SEBI on the captioned matter within three months from the date of issue of the no-objection lette

Mahendra N Shah will be MD with effect from October 1, 2022, till September 30, 2023

IDFC had reported a net profit of ₹42 crore in the preceding quarter

Sources say Bandhan, which started by lending to the bottom of the pyramid, is well placed to capitalise on semi-urban and rural markets

Bandhan is taking the traditional playbook and this won’t help. Here’s why

While BFHL will hold 60 per cent, GIC and ChrysCapital will each hold 20 per cent each in the AMC.

The profitability was buoyed as it received ₹200 crore as its share of profit from its associates, JVs