IDFC FIRST BANK: BOARDS OF IDFC AND IDFC FIRST BANK APPROVE MERGER BETWEEN BOTH ENTITIES || SHAREHOLDERS TO RECEIVE 115 IDFC FIRST BANK SHARES FOR EVERY 100 IDFC SHARES HELD
DUE TO MERGER THE STANDALONE BOOK VALUE PER SHARE OF THE BANK WOULD INCREASE BY 4.9%, AS CALCULATED ON MARCH 31 FINANCIALS
SHAREHOLDING OF IDFC IN IDFC FIRST BANK WILL BE EXTINGUISHED AS A RESULT OF THE MERGER || IDFC CURRENTLY HOLDS 39.93% IN IDFC FIRST BANK