IDFC to invest Rs.35 Crores in UWB

Infrastructure Development Finance Company Ltd (IDFC) has announced that the Company proposes to invest an amount of up to Rs 35 crores in the aggregate by way of equity in United Western Bank Ltd (UWB) a public limited company engaged in the banking business, subject to such terms and conditions as may be imposed by the Reserve Bank of India (RBI) and subject to receipt of requisite regulatory and other approvals by the Company in this regard.

Further the Company has informed that the said investment will be made by the Company, along with HDFC & its subsidiaries/associates, SICOM and the Government of Maharashtra.

Source : Equity Bulls

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