As parent company IDFC Ltd indicated that it would complete the merger with its business during the current financial year, barring unforeseen circumstances, shares of private sector lender IDFC First Bank increased 1.38 percent to 55.05 per share during early trade on Tuesday.
According to IDFC, the corporate simplification process has reached its conclusion. It further stated that the company’s merger with IDFC First Bank is the following move.
“We’d like to let you know that the corporate simplification process has reached its conclusion. The following phase is the merger with IDFC First Bank Ltd “In a filing, IDFC Ltd. stated.