Close on the heels of the merger of HDFC Ltd with HDFC Bank, the board of directors of IDFC First Bank on Monday approved the scheme of amalgamation of its parent IDFC Ltd with IDFC First Bank.
The share exchange ratio for the amalgamation will be 155 equity shares of face value of Rs 10 of IDFC First Bank for every 100 equity shares of face value of Rs 10 of IDFC Ltd.