Boards of IDFC and IDFC FHCL approve sale of IDFC AMC to consortium of Bandhan Financial Holding, GIC and ChrysCapital

At meeting held on 06 April 2022

The board of directors of IDFC and the board of directors of IDFC Financial Holding Company (IDFC FHCL) at their respective meetings held today, i.e. 06 April 2022, have inter alia considered binding bids received in connection with divestment of IDFC AMC along with IDFC AMC Trustee company IDFC AMC Trustee) and have approved sale of the entire shareholding of IDFC AMC and IDFC AMC Trustee held by IDFC FHCL to a consortium comprising of Bandhan Financial Holding, Lathe Investment (affiliate of GIC), Tangerine Investments and Infinity Partners (affiliates of ChrysCapital) (Proposed Transaction).

The Proposed Transaction will be completed upon receipt of requisite regulatory and other approvals, as applicable, and completion of closing related actions mutually agreed between the parties.

The consideration for the Proposed Transaction is Rs. 4,500 crore on a fully diluted basis and subject to customary price adjustments at the closure.

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