Shareholders and NCD holders of IDFC First Bank approve merger of parent IDFC Ltd, creating a fully owned institutional and public entity.
Shareholders and NCD holders of IDFC First Bank have approved the merger of parent IDFC Ltd with the bank, following a meeting at the National Company Law Tribunal (NCLT). The merged entity, IDFC First Bank, will have no promoter entity and will be fully owned by institutional and public shareholders. The merger aims to create a simpler corporate structure and streamline regulatory processes.
May 18, 2024
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