IDFC spurts after appointing Anil Singhvi as board chairman

IDFC rose 8.48% to Rs 53.10 after the company's board approved the appointment of Anil Singhvi as the chairman of the board of directors with immediate effect.

Anil Singhvi is chairman of Ican Investments Advisors, a business consultancy firm.

The board at its meeting today also approved to the proposal to seek shareholders' approval, by means of a postal ballot, for appointment of Anita Belani as an additional director in category of independent director of the company with effect from 9 November 2021 for a period of three years.

Further, the company will also seek shareholders' nod for the scheme of amalgamation of IDFC Alternatives, IDFC Trustee Company and IDFC Projects (wholly-owned subsidiary companies) into IDFC, subject to regulatory approvals from various authorities, as applicable.

 

IDFC is a financial services company in India and it advances infrastructure development in the country.

On a consolidated basis, IDFC reported net profit of Rs 261.89 crore in Q2 September 2021 as against net loss of Rs 145.27 crore in Q2 September 2020. Total income rose 269.07% to Rs 338.70 crore in Q2 September 2021 over Q2 September 2020.

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