For Shriram group's investors, the 'marriage' isn't value accretive

Street doesn't see synergies for the two firms from merger with IDFC Bank and IDFC Limited

The mega-merger announced between IDFC Limited, IDFC Bank and Shriram group companies on Saturday is perhaps the most ambitious deal announced in recent times. Terming it a “marriage made in heaven”, Rajiv Lall, CEO, IDFC Bank, said the deal would create India’s largest retail bank. Yet, investors aren't impressed. Shares of the Shriram Group twins — Shriram City Union Finance (SCUF) and Shriram Transport Finance Company (STFC) were among the top losers on the BSE, down over 3-5 per cent on Monday when the Sensex was up 355 points or by 1.1 per cent. Even shares of IDFC Limited