IDFC Ltd to divest its mutual fund business

The Board of Directors ('the Board') of IDFC Limited ('the Company') and IDFC Financial Holding Company Limited ("IDFC FHCL") at their meetings held today i.e. September 17, 2021, have, considered and approved to initiate steps to divest its mutual fund business subject to requisite regulatory approvals, as applicable. The Boards have authorised respective Strategy & Investment Committees to take necessary steps, including appointment of Investment Banker, for the same.

Shares of IDFC LIMITED was last trading in BSE at Rs. 57.8 as compared to the previous close of Rs. 53.95. The total number of shares traded during the day was 1108831 in over 3350 trades.

The stock hit an intraday high of Rs. 58.4 and intraday low of 54.5. The net turnover during the day was Rs. 62360175.

Source : Equity Bulls

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