Business News/ Companies / News/  IDFC Ltd calls off plan to sell securities business to TCG
BackBack

IDFC Ltd calls off plan to sell securities business to TCG

This is to inform you that the agreement entered into between IFHCL and TCG expired on June 30, 2019, IDFC Ltd said in a regulatory filing

Premium

IDFC Ltd on Friday said it has called off plans to sell stake in its subsidiary IDFC Financial Holding Company Ltd (IFHCL) to The Chatterjee Group (TCG).

This is to inform you that the agreement entered into between IFHCL and TCG expired on June 30, 2019, IDFC Ltd said in a regulatory filing.

"Since then, the parties have been in talks to consider a suitable extension, however the same did not fructify and accordingly the Boards of IDFC Ltd and IFHCL have decided on July 25, 2019 that they will no longer be proceeding with TCG as originally envisaged," it said.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

This story has been published from a wire agency feed without modifications to the text.

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 28 Jul 2019, 07:46 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie