IndusInd Bank
announced that the company has entered into a ‘Confidentially,
Exclusivity and Standstill Agreement’ (Exclusivity Agreement) with
Bharat Financial Inclusion Limited (BFIL).
The Exclusivity Agreement provides for a mutually agreed exclusivity period for due diligence and discussions to evaluate a potential strategic combination between the company and BFIL by way of amalgamation through a Scheme of Arrangement, or any other suitable structure, said the company in a BSE filing on Monday.
The potential transaction would be subject to due diligence, agreement on the appropriate transaction structure, definitive documentation and board, shareholders, regulatory, NCLT and other third-party approvals, as applicable, it added.
The swap ratio for the IndusInd Bank and Bharat Financial Inclusion has not been revealed yet. One should keep an eye on the swap ratio as per valuation point of view.
The stock of IndusInd Bank was up by 1.27% at Rs 1,718 per share in pre-opening session on Monday, on the BSE. Whereas Bharat Financial Inclusion was up 0.86% at Rs 944.
The Exclusivity Agreement provides for a mutually agreed exclusivity period for due diligence and discussions to evaluate a potential strategic combination between the company and BFIL by way of amalgamation through a Scheme of Arrangement, or any other suitable structure, said the company in a BSE filing on Monday.
The potential transaction would be subject to due diligence, agreement on the appropriate transaction structure, definitive documentation and board, shareholders, regulatory, NCLT and other third-party approvals, as applicable, it added.
The swap ratio for the IndusInd Bank and Bharat Financial Inclusion has not been revealed yet. One should keep an eye on the swap ratio as per valuation point of view.
The stock of IndusInd Bank was up by 1.27% at Rs 1,718 per share in pre-opening session on Monday, on the BSE. Whereas Bharat Financial Inclusion was up 0.86% at Rs 944.
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