7 Apr 2022 , 09:32 AM
“The board of directors of IDFC Financial Holding Company Limited (IDFC FHCL) at their respective meetings held on April 06, 2022, have inter alia considered binding bids received in connection with divestment of IDFC Asset Management Company Limited (IDFC AMC) along with IDFC AMC Trustee company Limited (IDFC AMC Trustee) and have approved sale of the entire shareholding of IDFC AMC and IDFC AMC Trustee held by IDFC FHCL to a consortium comprising of Bandhan Financial Holding Limited, Lathe Investment Pte. Ltd. (affiliate of GIC), Tangerine Investments Limited and Infinity Partners (affiliates of ChrysCapital),” company said in a filing on Wednesday.
The Proposed Transaction will be completed upon receipt of requisite regulatory and other approvals, as applicable, and completion of closing related actions mutually agreed between the parties.
The consideration for the Proposed Transaction is Rs4,500 crore on a fully diluted basis and subject to customary price adjustments at the closure. This consideration is in addition to receipt of Rs250 crore as dividend from IDFC AMC in March 2022.
At around 9.25 am, IDFC Ltd was trading at Rs64.90 per share down by Rs3.5 or 5.12% from its previous closing of Rs68.40 per share on the BSE.
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Securities Support WhatsApp Number
+91 9892691696
www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.