Dharmesh Mehta to acquire IDFC Securities

IDFC on Wednesday said it has agreed to sell 100 per cent equity in IDFC Securities to Dharmesh Mehta, ex-MD and CEO of Axis Capital, and other investors.

The agreement will be signed among the parties shortly and will conclude on the receipt of the necessary regulatory approvals.

“IDFC and IDFC Financial Holding Company (IDFC FHCL) have, based on the decision at their respective board meetings held today, entered into an understanding with Dharmesh Mehta along with other investors. Pursuant to the said understanding, acquirers will purchase 100 percent equity stake of IDFC Securities Limited from IDFC FHCL,” the company said in a regulatory filing.


Mehta stepped down as MD and CEO of Axis Capital in December last year.