IDFC First Bank and IDFC gain on exchange give merger deal the green light – The National Stock Exchange of India Limited issued an observation letter with a ‘no objection’ and the BSE Limited issued an observation letter with a ‘no adverse observations’.
IDFC First Bank traded nearly 1% higher on the NSE in the early hours of November 15 after the stock exchanges issued ‘no observation’ letters in relation to the proposed merger of IDFC Limited and IDFC Financial Holding Company Limited into IDFC FIRST Bank Limited.
IDFC shares gained about 1.3 percent, putting the stock at Rs 120.45, while IDFC First Bank was trading at Rs 87.10 at 9:50 a.m.