IDFC Group divests its entire stake in IDFC Securities for Rs 86 cr

IDFC announced that its wholly owned subsidiary - IDFC Financial Holding Company has completed the transaction for sale of its 100% equity stake held in IDFC Securities to Dharmesh Mehta along with other investors after obtaining all necessary regulatory approvals.

Pursuant to the definitive agreement, IDFC FHCL has received a consideration of Rs 86 crore for its 100% shareholding. Subsequent to the completion of this transaction, the IDFC group does not hold any shareholding in IDFC Securities.

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