IDFC calls off plan to sell securities business to TCG
29th Jul 2019

IDFC has called off plans to sell stake in its subsidiary IDFC Financial Holding Company (IFHCL) to The Chatterjee Group (TCG). The agreement entered into between IFHCL and TCG expired on June 30, 2019.

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 and IFHCL have decided on July 25, 2019 that they will no longer be proceeding with TCG as originally envisaged.

IDFC is the country’s leading integrated infrastructure finance player providing end to end infrastructure financing and project implementation services.