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IDFC-Shriram Merger Hits Valuation Roadblock
October 31, 2017
Differences over the valuation of IDFC Ltd. has brought its merger plans with the Shriram Group to a standstill.
The bank’s shareholders, including Sipadan Investments (Mauritius) Ltd. and Enam Holdings Pvt. Ltd., are demanding a higher valuation for the company, citing bright prospects for the bank as well as its subsidiaries.
This year, on July 8, IDFC Bank and Shriram announced a merger plan that would create a financial services company with a combined revenue of $4 billion. For now, the deal is under discussions, Shriram Group co-founder R. Thyagarajan said.