IDFC Ltd will merge into IDFC First Bank effective October 1, following approval from the National Company Law Tribunal. The merger will dissolve IDFC financial holdings and simplify the corporate structure. IDFC First Bank will issue new equity shares and address accumulated losses, potentially enabling future dividend payments.
Vedanta Power, Oil & Gas shares fall 3%; Vedanta Aluminium, Iron & Steel jump up to 5%. What lies ahead?
Vedanta’s demerger saw mixed fortunes for its listed entities. While Vedanta Power and Oil & Gas shares dipped, Vedanta Aluminium and Iron & Steel surged,