IndusInd, Bharat Financial listless even as CCI okays merger

NEW DELHI: Shares of Bharat Financial and IndusInd Bank were listless in Wednesday's trade even as the competition regulator Competition Commission of India (CCI) approved the scheme of amalgamation between the two.

At 10 am, shares of IndusInd Bank were trading 0.34 per cent lower at Rs 1,666.50 on BSE. Shares of Bharat Financial were trading 0.43 per cent higher at Rs 1,024.95.

The scheme is still subject to the receipt of approval from the RBI and regulatory approval including approvals of the stock exchanges, Sebi, the National Company Law Tribunal and respective shareholders, IndusInd Bank said in a separate filing to BSE.


IndusInd Bank had in October decided to acquire country’s leading microfinance player Bharat Financial Inclusion Ltd (BFIL). The merger will be effected through an all-stock transaction of BFIL into IndusInd through a Composite Scheme of Arrangement, PTI reported.

Post merger, the new entity is likely to have 4,000-odd branches and outlets and 16 million customers.

The appointed date for the composite scheme is January 1, 2018.