CREDIT GETIMAGE
CREDIT GETIMAGE
The announcement of the share swap ratio for the merger with IDFC Ltd caused IDFC First Bank's stock to drop by over 5%, while IDFC Ltd's stock surged by 7%.
CREDIT GETIMAGE
The merger ratio favored IDFC Ltd, resulting in a 2% surge in their stock, but IDFC First Bank experienced a 5% decline, impacting the market response.
CREDIT GETIMAGE
The merger is expected to increase IDFC First Bank's book value per share by 4.9% based on audited financials, creating a positive impact.
CREDIT GETIMAGE
IDFC First Bank is identified as a leading candidate for MSCI August 2023 Standard Index, requiring a 10% rally to secure a spot and potentially attracting significant inflow.
CREDIT GETIMAGE
Post-merger, IDFC First Bank will receive a cash infusion of Rs 600 crore from IDFC Ltd and plans to raise an additional Rs 2,000 crore by FY24.
CREDIT GETIMAGE
IDFC First Bank's eligibility for MSCI inclusion depends on reaching a price level of Rs 85 per share by the third week of July, subject to daily variations.
CREDIT GETIMAGE
Next steps