Wednesday, January 23News That Matters

Bharat Financial Inclusion Exploring merger pact with Indus-Ind Bank; Stock prices in Top

Bharat Financial Inclusion Ltd, India’s first listed micro lender, on Monday said it is in a pact with IndusInd Bank Ltd for exploring a merger.

“Bharat Financial has entered into an exclusivity agreement with IndusInd Bank for agreeing to have an exclusive discussion with IndusInd Bank about the proposed potential strategic combination by way of amalgamation through a scheme of arrangement, or any other suitable structure,” the company said in a notice to the stock exchanges.

“The agreement primarily provides for confidentiality of information/discussion and finalisation of the terms and conditions relating to the proposed transaction with a view to entering into a definitive documentation after the necessary approvals,” the company added.

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