$IDFC Shareholders of IDFC Ltd, in a meeting convened as per the order of the Madras High Court, have unanimously approved the company's demerger scheme... As per the scheme, IDFC Bank will issue one equity share of Rs 10 each for every equity share held in IDFC Ltd. On completion of the demerger, 53% of IDFC Bank will be held by IDFC Financial Holding Company Ltd, a 100% subsidiary of IDFC Ltd, and the remaining 47% by the shareholders of IDFC Ltd. http://www.business-standard.com
IDFC Limited provides financial, advisory, and management services for the infrastructure sector in India. It provides corporate investment banking services, which include project finance, such as senior debt financing, mezzanine products, equity investments, and non-fund based products; fixed income and treasury services, including the management of liquidity, and investment and trading in debt instruments, as well as advising clients on raising debt funds and helping them mobilize debt capital from the market; investment banking services in the areas of equity and debt capital markets, private equity syndication, and mergers and acquisitions; and equities brokerage and research services for institutional investors. The company also provides alternative asset management services that comprise private equity fund focusing on the infrastructure related development; investing structured equity in a portfolio of infrastructure assets; and medium to long term investments in the office and residential segments. In addition, it manages various mutual fund products for institutional and retail investors. IDFC Limited serves energy, telecommunication, transportation, hospital, education, tourism, and hotel industries. The company was formerly known as Infrastructure Development Finance Company Limited and changed its name to IDFC Limited in July 2012. IDFC Limited was founded in 1997 and is based in Mumbai, India.