IDFC-Shriram merger unlikely by early October

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

The chances of a definite deal emerging from the merger talks between the IDFC and Shriram group by early October appear dim, as the 90-day window for negotiations draws to a close.

Without committing on the outcome of the talks, Ajay Piramal, chairman of Shriram Capital and Primal Enterprises, said: “We will explore ways to see if the merger works out on the basis of what the Reserve Bank of India (RBI) approves and what the valuations are. We are still looking into it." 

On July 8, IDFC and the Chennai-based Shriram group had entered into a 90-day merger talk.