- The Share Exchange Ratio for the amalgamation of IDFC Limited with IDFC FIRST Bank is 155 equity shares of IDFC FIRST Bank for every 100 equity shares of IDFC Limited.
- 264.64 crore shares of IDFC FIRST Bank held by IDFC Ltd will be extinguished, and 248 crore new shares of IDFC FIRST Bank will be issued to IDFC Ltd shareholders based on their holdings.
- The merger will increase the standalone book value per share of IDFC FIRST Bank by 4.9%. - The merger will provide value unlocking for IDFC Limited shareholders who will directly hold shares in IDFC FIRST Bank.
- The merger will simplify the corporate structure of IDFC FHCL, IDFC Limited, and IDFC FIRST Bank, streamlining accounting and regulatory compliances.
- The merger will create an institution with diversified shareholders, similar to other successful Indian private sector banks.
- Record date not announced yet
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