IDFC to sell entire stake in subsidiary
16th Aug 2019

IDFC has agreed to sell entire stake in its subsidiary IDFC Securities to former CEO of Axis Capital Dharmesh Mehta and other undisclosed investors. The necessary definitive agreement will be signed among the parties shortly.

IDFC and its subsidiary IDFC Financial Holding Company (FHCL) following their respective board meetings entered into an understanding with Dharmesh Mehta along with other investors. Following this, acquirers will purchase 100 percent equity stake of IDFC Securities from IDFC FHCL.

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