Bharat Financial seeks NCLT approval for merger with IndusInd Bank

In October last year, IndusInd announced plans to acquire the country’s leading microfinance company BFIL.

Aug 24, 2018 11:08 IST India Infoline News Service

IndusInd Bank
After receiving the no-objection from Indian bourses, micro-lender Bharat Financial has now approached the National Company Law Tribunal (NCLT) for its proposed merger with private sector lender IndusInd Bank.

In October last year, IndusInd announced its plans to acquire the country’s leading microfinance company BFIL, which was previously known as SKS Microfinance. The merger had received approval from the Competition Commission of India in December 2017 and from the RBI in March 2018.
Bharat Financial ended at Rs1,192 down by Rs8 or 0.67% from its previous closing of Rs1,200 on the BSE.
The scrip opened at Rs1,193.15 and has touched a high and low of Rs1,198.20 and Rs1,182.35 respectively. So far 4,43,855 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs16,804.74cr.
IndusInd Bank ended at Rs1,927.25 down by Rs30.65 or 1.57% from its previous closing of Rs1,957.90 on the BSE.
The scrip opened at Rs1,974.90 and touched a high and low of Rs1,974.90 and Rs1,920.85 respectively. A total of 9,70,612 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs1,17,652.93cr.

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