IDFC Bank: After HDFC merged with this bank, Amitabh Bachchan is its brand ambassador
The board of directors of IDFC First Bank on Monday gave its approval for the merger of IDFC Ltd and IDFC Financial Holdings in the bank. A target has been set to complete this merger process this year itself.
A major change has been seen in the Indian banking sector recently, while HDFC Bank and HDFC Ltd, the largest private sector bank in the country, merged and became the fourth most valuable bank in the world.
Now another name of IDFC First Bank is going to be added to this list. This bank is also going to merge with the companies of its group, whose information has been given to the stock market.
The board of directors showed the green signal
The merger of IDFC Bank and IDFC Ltd will be the second major merger in the private banking sector after the merger of HDFC Bank and HDFC Ltd.
According to reports, the board of directors of IDFC First Bank on Monday gave its approval for the merger of IDFC Limited and IDFC Financial Holdings into the bank. A target has been set to complete this merger process this year itself.
Information given to Stock Markets:
IDFC First Bank has also informed the stock exchanges in this regard. It has been told in the regulatory filing that the merger will simplify the corporate structure of IDFC FHCL (IDFC FHCL), IDFC Ltd (IDFC Ltd) and IDFC First Bank (IDFC First Bank) and will be established as a single unit.
For this, a decision has also been taken regarding the distribution of shares. Superstar Amitabh Bachchan is the Brand Ambassador of IDFC First Bank