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Mumbai: The boards of IDFC Bank Ltd and Shriram Group on Thursday agreed to extend the agreement for their strategic merger till 8 November, as the exclusivity period for discussions ends on 6 October.
The IDFC Group and Shriram Group, which has earlier announced an exclusive discussion period for a proposed merger has been extended to another 34 days, till November 8, 2017. The decision comes after a period of 90 days of exclusive talks for the merger, which has been speculated to see several regulatory hurdles.
Mumbai: The interests of Shriram Group shareholders will be paramount in its merger with IDFC Ltd, said Shriram group chairman Ajay Piramal. Merger discussions may even be called off if the deal structure is not favourable to shareholders of the Shriram group firms, said Piramal, who is also chairman of Piramal Enterprises Ltd.
Mumbai: US-based venture capital firm Lightspeed Venture Partners is in talks to acquire a minority stake in Freight Commerce Solutions Pvt. Ltd, which operates Freight Tiger, according to two people aware of the development. (3-0)
One of the biggest financial merger deals in the country, IDFC with Shriram Group, has hit a hurdle after it faced opposition from some of its shareholders.
Shriram Transport Finance Co Ltd on Wednesday informed the exchanges that it has acquired 17 per cent of the total paid-up capital of Freight Commerce Solutions Private Ltd for ₹7 crore. The company has received allotment of 63,279 shares on Tuesday, with a face value of ₹10, issued at a premium of ₹1,096 a share. The acquisition is expected to provide opportunity and income to customers of Shriram Transport, which will also benefit in loan recovery and increase in business, it said in the notice.
The Nifty50 corrected by more than 400 points from its highs recorded of 10,137 earlier in the month of August, but the fall may not be over yet. Technical chartists see the decline getting deeper which could extend towards 9,600-9,500 levels.
Shriram Transport Finance reported strong Q1FY18 performance — PAT at ₹450 crore jumped about 20 per cent y-o-y, highest in the past six quarters. The beat as on account of robust NII traction (up about 15 per cent y-o-y) driven by margin expansion (up >50 bps q-o-q to 7.5 per cent) on funding cost benefit and lower interest reversal.
Shriram Transport Finance Company today reported a 20 per cent rise in net profit at Rs 448.68 crore in the first quarter ended June 30.
Trading Members of the Exchange are hereby informed that with effect from Monday, July 31, 2017 under mentioned new securities issued on private placement basis Shriram Transport Finance Co. Ltd., are admitted to dealing on the Exchange in the list of securities of F GROUP - DEBT INSTRUMENTS
Shriram Transport Finance Company Ltd said it has raised Rs 400 crore by selling bonds on private placement basis.
New Delhi : Shriram Transport Finance Company on Tuesday said it has raised Rs 980 crore by issuing debt on private placement basis.
Temasek executives Ravi Lambah and Promeet Ghosh talk about investment opportunities, distressed assets and the firm’s India strategy
Shriram Group touts mutual benefits, but analysts and minority shareholders are not buying the argument for the IDFC-Shriram merger deal
Shriram group founder R. Thyagarajan on the rationale behind the IDFC-Shriram merger, his choice of Ajay Piramal as successor and why the deal is lucrative for shareholders
Shriram Transport Finance Co’s rating is not immediately affected by the announcement of IDFC’s proposed merger with Shriram Group, Fitch Ratings said today.
S&P Global puts the Shriram Transport Finance Company’s (STFC) rating on a Credit Watch after the announcement of the IDFC and Shriram Group of companies merger.
A mega merger has been initiated with IDFC and Shriram Group agreeing on exclusive discussion. However, details are awaited.
S&P Global Ratings today placed the rating of Shriram Transport Finance Co (STFC) on 'CreditWatch' following the announcement of a proposed merger of the IDFC group and Shriram group of companies.
Shares of IDFC and Shriram Group of companies fell up to 7.4 per cent today after they agreed to merge and create the largest retail-focused bank in the country.
In other news, Gati, Peepul Capital and TVS Logistics express interest to acquire Vulcan Express, the in-house logistics arm of online marketplace Snapdeal
Regulatory hurdles, potential asset-liability mismatch for IDFC Bank seen as pressure points in the IDFC and Shriram Capital merger deal
Ajay Piramal says he is committed to following RBI guidelines and regulators will see through any attempt to enter the banking sector with the Shriram Capital-IDFC merger
It is a mega merger, a large transaction - IDFC Group as well as Shriram Group looking to come together and form USD 10 billion powerhouse of financial services.
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