IDFC Shriram Merger

In an interview, Piramal Group chairman said he would not hesitate to step down from Tata Sons board if there is a sense of conflict of interest after his acquisition of DHFL

Shriram City Union Finance rallied 4.5% to Rs 2,284, while Shriram Transport Finance trading 1% lower at Rs 1,169 after hitting a 52-week high of Rs 1,200 in early morning deal

We never got a formal counter-offer, presumably, because their set of shareholders could not get comfortable with our ask, said Rajiv Lall

Said, 'We were consistent that it was a fair valuation; as this was not happening, we decided to call it off'

According to IDFC, the two stakeholders were unable to agree on a mutually agreeable swap ratio.

IDFC and Shriram entered into an exclusive merger talk arrangement on July 8

Discussions on valuations were ongoing still and sources say there might be some tweaking in the tentative plan presented in July

In the merger of IDFC group with Shriram Group of companies, there is not even the initial euphoria

Last week Shriram Group, which has an AUM of around Rs 100,000 crore, and IDFC have announced they are looking at possible merger of Shriram's finance businesses with IDFC Ltd and IDFC Bank. Ever since this was announced, discussion has been going around whether it will get regulator's clearance, cultural issues were raised among the other things.Shriram Group's founder R Thyagarajan, who founded the group in 1974, spoke to T E Narasimhan and Gireesh Babu and he is optimistic about the merger, which was initiated by Ajay Piramal now the Chairman of Shriram Group. Thyagarjan says his decision to hand over the helm to Piramal was due to lack of entrepreneurial attitude inside the Group.What led Shriram to consider this merger?Shriram always believed in partnership, over the years it has/had various partners, who have contributed for the growth. It was not only IDFC, there were many proposals came in the last two or three years, from a big bank, a small bank and an NBFC, and we examined .

Shriram Group, which has assets under management of Rs 1,00,000 cr, has been a darling of investors

MD of IDFC Bank asserts that the merger proposal between Shriram Capital and IDFC Group will work

Under the tentative arrangement, IDFC will be the holding company of the merged entity

Shriram City Union and Shriram Transport Finance were down 4%, while IDFC down 3% on BSE

The impending merger between IDFC and Shriram Capital has come under regulatory scanner over handling of price sensitive information amid a sharp rally in the two group companies. According to sources, the Securities and Exchange Board of India (Sebi) directed stock exchanges to collate information on price movement, trading patterns and suspicious activity, if any in the four listed companies belonging to IDFC and Shriram group.Shares of all the four companies saw unusual spike this week on the back of reports that the two groups are in advanced stages to announce a mega merger. IDFC Bank, IDFC, Shriram City Union Finance and Shriram Transport Finance gained 18.3 per cent, 8.4 per cent, 5.1 per cent and 9.1 respectively during the week. In comparison, the BSE Sensex gained 1.42 per cent and BSE Bankex 0.84 per cent for the same period.According to multiple sources, Chennai-based Shriram group and IDFC have entered talks for an all-stock merger to create a Rs 60,000-crore financial ...

Sebi is unhappy with the top management of IDFC, IDFC Bank, and Shriram Transport Finance