India's IDFC, IDFC First Bank rise after cenbank's 'no objection' to merger scheme

IDFC First Bank

19/12/2023 05:21

** Shares of IDFC  IDFC.NS  and IDFC First Bank  IDFB.NS 
rise as much as 3% each
    ** Reserve Bank of India conveys its "no objection" to the
merger scheme of IDFC and IDFC Financial Holding Company with
IDFB
    ** Merger scheme still subject to approvals from the
National Company Law Tribunal and the shareholders of IDFC, IDFB
and IDFC Financial Holding
    ** Shares of IDFC and IDFB up 78% and 54%, respectively, in
2023 so far, including today's gains, vs 13% rise in Nifty
Private Bank index  .NIFPVTBNK 
    

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))