IDFC shares tank nearly 7 pc
- Country:
- India
Shares of IDFC tanked nearly 7 per cent on Thursday, a day after the company announced the divestment of its asset management business to a consortium of Bandhan Financial Holdings, GIC and ChrysCapital for Rs 4,500 crore.
The stock tumbled 6.65 per cent to settle at Rs 63.85 apiece on the BSE. During the day, it plunged 7.89 per cent to Rs 63.
On the NSE, it tanked 6.35 per cent to settle at Rs 64.10 apiece.
A consortium of Bandhan Financial Holdings, GIC and ChrysCapital will acquire IDFC Asset Management Company for Rs 4,500 crore in one of the largest deals in the country's asset management space.
The deal is subject to receipt of necessary regulatory approvals and customary closing conditions, according to a regulatory filing on Wednesday.
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